Founded in October 2017 by Chinese entrepreneur Jenny Qian Zhiya, Luckin Coffee has come a long way in a short time to challenge Starbucks’ dominance of the coffee consumption market in China. Luckin is the first large-scale threat to Starbucks’ coffee business built over two decades. While Starbucks in recent years has grown increasingly high end, as shown in the Bali outlet it just opened, Luckin is taking almost the opposite approach in China.

https://www.forbes.com/sites/ywang/2019/03/17/how-luckin-coffee-is-burning-through-cash-to-overtake-starbucks-in-china/