US EditionChina's Luckin Coffee Opens First U.S. Locations in New York City
- Luckin Coffee, a China-based chain founded in 2017, opened its first two U.S. stores in Manhattan, New York City, on Monday.
- Luckin rapidly grew to over 22,000 locations across Asia by offering app-based, cashless service and prices about 30% lower than Starbucks in China.
- The two New York stores feature smaller footprints to reduce costs and sell signature drinks like pineapple- and raspberry-flavored iced coffees and Refreshers.
- Luckin promoted its U.S. launch with a $1.99 first drink and social media posts saying, “NYC, you're luckin now,” highlighting efficiency and a new retail model.
- Luckin's U.S. expansion challenges Starbucks during its turnaround, but it remains uncertain if Luckin's China strategy will succeed in the American market.
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China Coffee Giant Luckin Challenges Starbucks in the US
Starbucks Corp. (NASDAQ: SBUX) sales in China are essential to its future. In the most recent quarter, the U.S. and China together had 61% of the company’s stores worldwide. At the end of the quarter, it had 17,122 stores in the United States and 7,758 in China. However, China has become a problem market. The primary reason is local rival Luckin Coffee, which has 22,000 stores there. The competition for Starbucks is overwhelming. 24/7 Wall St. …
China's largest coffee chain opens first US stores in bid to take on Starbucks
CHINA’S largest coffee chain has opened its first stores in the US in a move to take on giants such as Starbucks. There are more than 20,000 Luckin Coffee stores in China – more than three times the number of Starbucks sites in the Asian country. A new coffeehouse chain has burst onto the scene in the US (stock)Getty GettyLuckin Coffee stores have opened in New York City[/caption] And, Luckin stores in China do not accept cash with customers ha…
Luckin Coffee opens first US stores, stepping onto Starbucks’ home turf · TechNode
Chinese coffee giant Luckin Coffee has opened its first two US stores in Manhattan, marking its American debut as it eyes Starbucks’ home turf. The Xiamen-based chain launched Monday in Greenwich Village and Chelsea, following playful teasers on social media. Founded in 2017, Luckin now operates more than 24,000 stores across Asia. Despite past scandals, the company’s profits surged 41% last quarter. Its cashierless, app-based model helped it su…
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