Analysis: Luckin Coffee could become the world’s largest coffee chain in 2027

The Chinese coffee giant opened more new stores last year than most of its rivals could dream of. It could soon become the world’s largest by outlets, but size isn’t everything – here’s why

In a coffee industry that has changed immeasurably over the last three decades, there has at least been one constant: Starbucks as the largest coffee chain in the world.

With more than 41,000 stores across 89 countries, Starbucks has long dwarfed coffee competitors with a sheer scale that seemed impossible to surpass.

That could soon change.

Less than six years after a financial scandal that almost brought it to its knees, Luckin Coffee’s remarkable turnaround is in full throttle – and shows no signs of slowing.