Starbucks vs. Luckin Coffee: the Battle in China Heats Up
Despite growing concerns about a slowing economy and increased competition in China, Starbucks (NASDAQ: SBUX) is committed to continued expansion in a market that used to be dominated by tea. Starbucks, among other big name brands, is helping to drive China's growing interest in coffee.
Starbucks has become increasingly dedicated to its global efforts, especially in China. This became apparent with the introduction of Kevin Johnson as CEO in 2017, who understood that success in China would rely on targeting a more digital-savvy crowd than in the US.
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Source Fool.com
