Why did Luckin Coffee expand from coffee drinks to tea drinks?

Pop-up store, Luckin coffee

It can be said that under the influence of multiple negative factors, the entrepreneurial market in China is quite calm this year. Incomplete statistics show that there were more than 540 start-ups that received A-round financing last year and were on the verge of bankruptcy. And several start-ups with a valuation of tens of billions of dollars are also vying for the same listing window. Many entrepreneurs lament that "the bitter days are coming".

In the case of tight capital and depressed market, the promotion of coffee may go against the trend and become a striking corporate case, which has attracted the attention of investment banking research institutions and media at home and abroad, including Goldman Sachs, Reuters, BBC, FT and American Consumer News and Business Channel.

In addition, Rising Coffee's aggressive "dark horse" has forced Starbucks, an American coffee giant unprepared for the China market, to break away from convention and launch take-away service in the China market.

Starbucks met a strong competitor.

This year, Starbucks' global same-store growth is the lowest in the past nine years. With the sharp closure of domestic stores, CFO replacement, layoffs and major business restructuring, the market growth predicted by Starbucks in China has begun to decline. This year, Starbucks lost more than $654.38+05 billion in market value. Although it has rebounded recently, it has dropped by nearly $654.38+0 billion compared with the highest point in the year.

We have different views, viewpoints and problems about the discussion of coffee expansion. But there is one problem that can't be solved all the time-the situation of "one share dominating" in the domestic chain coffee market has lasted for nearly 20 years. How does Rising, the "Little Blue Cup", rise rapidly and change the market structure?

Minimalism was written by a series of entrepreneurs, Richard Kirk, Bain's management consulting partner and Reglock Wood, a famous investor in Silicon Valley. They are all top managers in the consulting industry. Before joining Bain Management Consulting, Kirk was a senior consultant of Boston Consulting. Later, he founded lek, a famous British management consulting company.