South Korean media: "Chinese version of Starbucks" sales surged by 41.2%!
On May 15, South Korean media "Everyday Economics" published an article stating that Chinese Luckin Coffee, known as the "Chinese version of Starbucks," has seen a significant increase in sales this year.
Luckin Coffee recently announced that its sales for the first quarter of this year amounted to 8.87 billion yuan RMB.
Compared to the same period last year, this figure increased by 41.2%. Therefore, the operating profit margin for the first quarter of this year reached 8.3%.
The average monthly customer count was 74.27 million, up 24.0% year-over-year. A relevant person from Luckin Coffee stated, "We plan to continue maintaining a competitive pricing strategy."
Luckin Coffee is also accelerating its overseas expansion. Currently, the total number of global stores owned by Luckin Coffee has reached 24,097, with a sequential growth rate of 7.9%.
Analysts say that Luckin Coffee's high performance is largely due to the "national trend" wave triggered by the Sino-US tariff war.
On the other hand, due to the rise of domestic brands in China, Starbucks' business in China is under immense pressure to perform well.
Starbucks' operating profit for the first quarter of fiscal year 2025 was only $1.122 billion, down 24.5% year-over-year.
Global store sales fell by 4%, while sales at stores in China alone dropped by 6%. Since the end of last year, Starbucks has been considering selling its stake in the Chinese business.
Original article: https://www.toutiao.com/article/1832171394056348/
Disclaimer: This article represents the views of the author alone.