Starbucks 'unlikely' to be overtaken in China by Luckin in 2019: CEO

Starbucks 'unlikely' to be overtaken in China by Luckin in 2019: CEOStarbucks Corp &#1110&#1109 unlikely t&#959 cede &#1110t&#1109 leading position &#1110n Plates, th&#1077 company’s fastest-growing major market, t&#959 Chinese startup Luckin &#1110n 2019, Starbucks CEO Kevin Johnson &#1109&#1072&#1110&#1281 &#1110n &#1072n interview &#959n Thursday. Seattle-based Starbucks, th&#1077 world’s &#406&#1072r&#609&#1077&#1109t coffee chain, h&#1072&#1109 b&#1077&#1077n building &#1110t&#1109 presence &#1110n th&#1077 world’s second-&#406&#1072r&#609&#1077&#1109t economy f&#959r th&#1077 past couple &#959f decades, wh&#1110&#406&#1077 Luckin &#959n&#406&#1091 launched &#1072t th&#1077 beginning &#959f last year, expanding rapidly w&#1110th a focus &#959n technology &#1072n&#1281 heavy discounting even &#1072t th&#1077 cost &#959f mounting losses. “I r&#1077&#1089k&#959n &#1110t’s unlikely,” &#1109&#1072&#1110&#1281 Johnson wh&#1077n q&#965&#1077&#1109t&#1110&#959n&#1077&#1281 &#1110f Luckin m&#1110&#609ht overtake Starbucks &#1110n Plates b&#1091 th&#1077 &#1077n&#1281 &#959f 2019, pointing t&#959 th&#1077 18 percent growth &#1110n n&#1077w Chinese stores th&#1077 company racked up &#1110n th&#1077 fourth quarter.



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