Starbucks' big rival in China has announced plans to go public in the US
Despite being barely 18 months old, Luckin has opened more than 2,300 outlets across China and plans to open another 2,500 by the end of this year. If that happens, the company will oust Starbucks as China's biggest coffee chain.
7 billion cups last year,Read MoreWhile both Starbucks and Luckin serve coffee, the similarities largely end there. Unlike Starbucks' trademark coffee shops, most of Luckin's outlets are tiny booths in out-of-the-way spots that take orders online for both delivery and pickup.Starbucks CEO says the company is 'playing the long game in China'More important, Luckin has placed technology at the heart of its business from the start.
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