In 2023, Luckin Coffee can be described as "hurricane", with the number of its stores exceeding 10,000, realizing its plan to overtake Starbucks China and becoming the chain coffee brand with the largest number of stores in China in one fell swoop. Not only that, through the co-branding with Moutai, the "Sauce Latte" created a whirlwind of fine wine and coffee, with sales of more than 5 million cups on the first day and sales of more than 100 million yuan, which has been on the hot and hot searches of major social platforms for several days.
Industry insiders said that coffee shops have sprung up in major cities in China in recent years. From internationally renowned brands to homegrown independent cafes, a wide variety of coffee shops have popped up in the streets, providing a whole new kind of social place. These coffee shops appeal to young people who are eager to enjoy a good cup of coffee, as well as a comfortable, stylish environment to relax and socialize. Young Chinese have become more curious, and they are willing to try different types of coffee, learning about the origin of coffee, the roasting process, and the different brewing methods. Coffee became a way of life, and people started brewing coffee at home, learning how to make a cappuccino or latte Xi. The newly born Chinese coffee chains not only offer traditional coffee options, but also create specialty coffee drinks that cater to the tastes of a wide range of consumers.
The development of Luckin is like a roller coaster, experiencing ups and downs and rising again. Three years ago, Luckin was on the verge of bankruptcy and became the target of public criticism, and Qian Zhiya, the founder of Luckin, stepped down as the company's legal representative, general manager and executive director. Who would have thought that in just three years, the reorganized Luckin fought a beautiful "turnaround".
On the other hand, Qian Zhiya, the former CEO of Luckin, once again entered the chain coffee market with a high profile and launched a new brand, Cotti Coffee. According to the data, Cudi Coffee was founded less than 1 year ago and is committed to becoming the preferred coffee brand for Chinese customers. Cudi Coffee brand tonality: young, fashionable and professional. The brand is introduced, "Build a business support platform based on Internet technology, integrate the superior resources of brand, product, chain and operation service to help affiliates easily become coffee dreamers, so that there is no difficult coffee shop in the world." ”
Want to be a "disruptor" in the coffee industry?It is reported that the name Cudi (Cotti) comes from the Italian specialty coffee accompaniment biscotti, which Italians are Xi used to use as a stirring stick for coffee, with coffee to start a day's life. From the very beginning, the brand was destined to be more than just another coffee shop, but also a pan-coffee lifestyle, an extension and extension of the coffee concept. If Luckin is "hurricane" this year, then its brother, who is following behind him, must be "running wild". As soon as the first store landed in Fuzhou last year, it was announced that it would become the sponsor of the Argentine team in China, and the price of a coffee drink was less than 10 yuan. It took only 300 days to open 5,000 stores, which is an average of 16 new stores per day. Cudi plans to open 10,000 coffee stores within three years, which is faster than Luckin back then.
Market Analysts' Comments: The rise of China's coffee market is not just a short-term trend, it reveals huge market potential and business opportunities. The younger generation is the main driving force in the coffee market. They have a keen interest in coffee, are willing to explore new flavors, and are willing to spend time learning Xi and socializing in coffee shops. This generation of young people is also gaining purchasing power, and they are willing to spend on high-quality coffee. As more and more people begin to appreciate coffee culture, the Chinese coffee market will continue to be the focus of competition between international and local brands, and will also become an important growth engine for the coffee industry. The rise of Luckin Coffee has made huge waves in the Chinese coffee market, but it is still difficult to determine whether it will be the ultimate "coffee winner".