Reported 11 months 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