Luckin Coffee has grown to over 24,000 stores outside of its original Chinese market, including recent openings in New York, positioning itself as a competitor to Starbucks. China is crucial for Starbucks, accounting for a significant portion of its global store count. While new initiatives are being implemented under CEO Brian Niccol in the U.S., little emphasis has been placed on international strategies. Revenue for Luckin increased by 41%, indicating its strength. Other competitors like McDonald's and Dunkin' Donuts present additional challenges for Starbucks' market share.
Starbucks faces significant competition from Luckin Coffee, which has expanded beyond China with over 24,000 international stores and recently opened in New York.
Starbucks' second-largest market is China, comprising a key part of its global portfolio with 7,758 stores, making the company vulnerable to competition.
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