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Luckin Coffee lays out aggressive plan to launch 2,500 stores in 2019
The news follows after they collected US$200 million in its latest funding round.
Luckin Coffee is eyeing to open 2,500 sites in China this year that is said to bring their store count to more than 4,500.
According to a report by Reuters, this may overpower Starbucks who currently has more than 3,600 locations in the country.
Last month, the coffee startup were able to collect US$200 million in its second funding round. Their valuation is now at US$2.2 billion. Luckin Coffee now has around 2,000 stores after their debut 18 months ago.
Aside from Starbucks and Luckin Coffee, Costa Coffee is another coffee player in the country that was recently acquired by The Coca-Cola Company.
(Also read: What's driving the brewing coffee war in China?)
