Alibaba is going to help Starbucks in China – What's new?
News you want to use week 31.
Starbucks is pairing up with the e-commerce service Alibaba Group Holding Ltd. to deliver food and beverage products in China. The move comes as Starbucks recorded an earning slowdown in its last quarter. Analysts believe this is partially due to new competition, including from the startup coffee company Luckin Coffee in Beijing.
In the last seven months, Luckin has opened 660 stores where coffee is brewed and then delivered to customers by scooter. “Luckin tastes good and is cheaper,” said 32-year-old business analyst, Lin Jinghan, adding that Luckin offers delivery straight to the office, making it a convenient option.
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