Retail jolt: Cotti Coffee opened its 10,000th store as the growth story continues

Cotti Coffee announced that it opened its 10,000th store, with an opening in Doha, Qatar. The milestone arrived only two years after the anniversary of the company’s first shop.

The company emerged in 2022 from the ashes of Luckin Coffee’s (OTCPK:LKNCY) financial scandal. The brand quickly made its mark in China’s competitive coffee market, opening its first store in Fuzhou on October 22, 2022. Cotti’s rapid expansion strategy mirrored Luckin’s (OTCPK:LKNCY), leveraging aggressive marketing, low prices, and a franchise model to fuel growth. Within just five months, Cotti reached 1,000 stores nationwide. The Cotti brand gained visibility by sponsoring the Argentina national football team during the 2022 World Cup and launching limited-edition products. By December 2023, Cotti had established over 6,000 coffee shops, and expanded internationally with stores in South Korea, Indonesia, and plans for other Asian markets.

Cotti Coffee’s major competitors in China include Luckin Coffee (OTCPK:LKNCY), Starbucks (NASDAQ:SBUX), Costa Coffee (KO), Greybox Coffee, McDonald’s (MCD) McCafe, Yum China’s (YUMC) KCCcoffee, Pacific Coffee, Manner Coffee, and Seesaw Coffee.