Starbucks

Starbucks is the world's largest coffee chain, a status it held as of 2017 per 峰瑞资本's industry analysis . The company attempted to expand into tea retail through its Teavana brand, spending at least four years and $620 million before closing all 379 Teavana stores in July 2017 — a retreat that coincided with rising competition from Chinese tea brands like HeyTea and Nayuki . In China, Starbucks has since become a benchmark for local challengers: 霸王茶姬 founder Zhang Junjie was openly mocked four years ago for aspiring to become an "Oriental Starbucks," yet by March 2025 the brand was treating Starbucks as a genuine rival . Starbucks' early history — its 1987-1997 "cold start" and heavy expansion phase — has been documented in 峰瑞资本's own research series .