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Starbucks’ second-largest market after the US is China, where it has over 3,300 stores and operates with virtually no serious competition. A Beijing-based startup could change that. Luckin Coffee has opened 525 outlets across China’s major cities less than nine months after its launch. Today the fast-growing company confirmed it’s closed a $200 million funding round giving it a $1 billion valuation. Investors include Centurium Capital, a private equity fund founded by the former China head of Warburg Pincus, and GIC, Singapore’s sovereign wealth fund. In domestic Chinese media, Luckin has aggressively courtedcomparisons to the world’s best-known coffee chain. In May, it even wrote anopen letter accusing Starbucks of “monopolistic behavior” (Starbucks called themove a “publicity stunt”). But Luckin isn’t a Starbucks copycat—rather, itmeshes trends in China’s tech industry with the coffee-shop model mastered byits rival. First, Luckin Coffee revolves around the smartphone. Whencustomers walk into one of its blue-and-white shops, they’re immediately askedto download the Luckin app to order coffee (assuming they haven’t done soalready). They can pay using WeChat payments or Luckin’s own “coffeewallet”—but not cash. This fits into China’s so-called “new retail” trend, inwhich tech giants like Alibaba and Tencent partner with supermarkets andconvenience stores on mobile payments, analytics, and inventory management. Luckin has also aggressively promoted its deliveryservices—of its 525 outlets, 231 are kitchens dedicated exclusively to fillingorders placed in offices, homes, or elsewhere. This mimics China’s boom ine-commerce and food delivery, which has thrived on the back of low-wagecouriers. 查看完整文本，请关注订阅号：esposts，关键词：瑞幸咖啡 优惠信息及最新课程资讯请关注微信公众号：esenglish