Charts of the Day: Chinese Coffee Startup Cotti Brews Up a Price War With Luckin

Newcomer Cotti Coffee is doubling down on efforts to close the gap with China’s industry leader Luckin Coffee Inc., rapidly opening new stores and handing out steep discounts to draw customers amid a broader coffee price war.

As of March, Cotti had 6,570 stores on the Chinese mainland, compared with six in October 2022 when it was launched by Luckin’s disgraced co-founders Lu Zhengyao and Qian Zhiya. By comparison, Luckin grew its store count from 7,952 to 18,257 during the same period, according to GeoHey, a Beijing-based company that tracks the locations of more than 1,000 chain brands nationwide.