date:Jan 02, 2019
August, it teamed up with Alibaba (BABA), China's largest e-commerce company, to launch home delivery services. A month later, Luckin announced its own tie-up with another major Chinese internet company, Tencent (TCEHY).
Yuwan Hu, an analyst at Daxue Consulting in Shanghai, said that competition from Luckin is also prompting Starbucks to go more upmarket by focusing more on its Reserve brand in China. The outlets offer consumers more premium coffee options in a larger, more luxurious retail sp