Starbucks says it won't lose its position in China
Feb 8, 2019
Starbucks is the largest coffee chain in the world, but recently its position in the Chinese market has been challenged by start-up Luckin. Starbucks has opened more than 3,600 in China after decades working in the country, while Luckin has only offered its services for a year but has expanded aggressively, putting growth ahead of profit. Speaking in an interview, Starbucks CEO Kevin Johnson says that Luckin won't take Starbucks' position in the Chinese market, adding that in the last quarter, the company opened locations in 10 new cities in the country as Starbucks strategy focuses on opening new stores rapidly. The executive added that Starbucks hasn't been affected by the trade war between the U.S. and China yet.