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Luckin zooms past Starbucks in China locations

|About: Luckin Coffee Inc. (LK)|By: , SA News Editor

Luckin Coffee (LK -2.5%) passed Starbucks (SBUX -0.3%) recently as the coffee chain with the most outlets in China.

The Chinese company ended 2019 with ~4.5K locations open. Luckin isn't a direct competitor with Starbucks in many markets as it focuses on a much smaller format in more remote regions than SBUX.

Luckin trades about 119% above where the IPO was priced last May.

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