KFC sold a reported 170m coffees in 2021 and opened its first dedicated coffee kiosk in Shanghai last October.
For more than three millennia, tea has formed an integral part of Chinese society. Are young people about to change it for good?
The “crossover” coffee shop model has been a driving force in the industry over the past two years.
Shanghai is home to nearly 8,000 coffee shops – the most for a single city.
Some fear bubble tea is hampering coffee's growth, while others suggest they are complementary markets.
As China looks to reinvent its image at home, young consumers are increasingly drawn to local coffee brands.
In 2019, Luckin Coffee Inc was valued at around $13bn, but a financial scandal almost led to bankruptcy. Can new leadership help steady the ship?
