Starbucks, Luckin Coffee Open Seven Stores at Beijing's Vast New Airport
Liao Shumin
DATE:  Sep 26 2019
/ SOURCE:  yicai
Starbucks, Luckin Coffee Open Seven Stores at Beijing's Vast New Airport Starbucks, Luckin Coffee Open Seven Stores at Beijing's Vast New Airport

(Yicai Global) Sept. 26 -- Starbucks and Luckin Coffee, the two biggest coffeehouse chains in China, have opened a total of seven new shops at Beijing Daxing International Airport, the Chinese capital's newest transport hub.

Seattle-based Starbucks plans to open a total of 10 stores at the airport, which opened five days ahead of schedule yesterday, the Beijing News reported. It already has four, including a high-end Starbucks Reserve store that spans 479 square meters and is made mostly of glass and steel frames.

Starbucks' rival Luckin Coffee opened three stores at the airport. Chief Executive Qian Zhiya last month reiterated plans to outgrow Starbucks in China this year despite a USD99 million loss in the second quarter. The Xiamen-based startup plans to have 4,500 nationwide by the end of this year, some 900 more than its American competitor.

China will invest a total of CNY450 billion (USD63 billion) in Daxing International. It hopes to welcome 45 million passengers a year by 2022 and 72 million by 2025, at which point 30 percent of flights leaving the hub will be bound for overseas. The first construction phase cost CNY80 billion.

Editor: James Boynton

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Keywords:   Starbucks,Luckin Coffee,Beijing Daxing International Airport