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01:30
Chinese coffee chain surpasses 9,000-store milestone as it expands to neighbour countries
Chinese drinks conglomerate Luckin Coffee surpassed its target of 9,000 stores following its expansion into neighbouring countries.
Footage shows a branch of the rapidly-expanding chain in the Ratchada area of Bangkok, Thailand. The Chinese competitor to Starbucks recently opened its second branch in the Southeast Asian country.
It opens an average of 13 new stores per day, although most of its branches are available for delivery or pickup only, with no in-store seating. It has a reported total of 9,381 branches, or a 14 per cent growth from the end of last year.
It outgrew Starbucks in China, reportedly building 6,090 stores by the end of 2022.
Despite the rapid growth, Starbucks reportedly still makes higher revenue despite a 31 per cent decline in sales in China, making 622 million USD by the end of this year's first quarter. Meanwhile, Luckin reported 536 million USD in revenues by the end of last year's fourth quarter.
Communist China has seen rapid economic growth in recent years but appalling human rights abuses at home and abroad.
The Council on Foreign Relations (CFR) stated that China's treatment of Uyghurs in Xinjiang had lead to the 'United States and several other foreign governments' branding China's actions in Xinjiang as 'genocide'.
China has also been blamed for grotesque child slavery and environmental abuses in the Democratic Republic of the Congo where it has monopolized the lucrative mining industry for cobalt - an essential compound in batteries used in smartphones, laptops and electric cars.
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