Reported about 1 year ago
As of June 8, 2024, the coffee industry in China is seeing fierce competition with local brands like Kudi Coffee challenging international chains like Starbucks with ultra-low prices. With 7,000 stores, newcomer Kudi Coffee has disrupted the market by selling coffee for less than 10 yuan per cup, leading to a new price war. Kudi's pricing, even lower than Starbucks and Luckin Coffee, has been well-received. Kudi's executives have expressed confidence in their low-price strategy, leading to rapid expansion and impacting the sales of existing chains such as Starbucks and Luckin Coffee in the Chinese market.
Source: YAHOO