McDonald's launches CosMc to counter Starbucks

McDonald's has introduced a new restaurant concept named CosMc, set to compete with Starbucks. The inaugural location, opening in Bolingbrook, Illinois, will focus on sweet treats like Churro Frappe and S'Mores Cold Brew, alongside simplified McDonald's classics.

The pilot in Chicago is a part of the plan to establish around ten CosMc locations by the end of 2024. McDonald's aims to open 10,000 new restaurants globally by 2027, with a significant focus on China, anticipating a total of about 50,000 stores.

Despite economic challenges, the company plans to add 900 new US restaurants, 1,900 in international markets, and 7,000 in international licensed markets, with over half earmarked for China, potentially becoming McDonald's largest market.

CEO Chris Kempczinski emphasized the importance of global viability for CosMc, stating, "It's not worth our time to develop an idea that will only work in one market."