China’s Caffeine War: Fast-growing Luckin Brews Up a Threat to Starbucks
Qian Zhiya may be Starbucks’ worst nightmare. The 42-year-old Chinese entrepreneur says she is betting that her fledgling Luckin Coffee brand will eventually have more cafes in China than Starbucks, and she has Singapore’s sovereign wealth fund and other investors bankrolling her plan. Luckin, which only officially launched in January, …