- Luckin Coffee opens its first US locations. The coffee chain based in China has superior to numbers Starbucks in his home country. It enters the US market at Starbucks, which is located in the middle of a turnaround.
While the trade wars take most of the headlines, another struggle between China and the USA is about the caffeine of consumers.
Luckin Coffee, the largest coffee chain in China, opened A Couple locations in New York. And that could focus on the ongoing Turnaround plans from Starbucks, as Luckin with 22,000 locations in China is growing through this company in China.
Luckin was founded in 2017 and offers largely scaled shops and not coffee houses that are supposed to encourage customers to linger. It accepts cashless payments and has Takeout stands. The smaller footprint lowers the expenses and has made it possible to offer the usual coffee house booklings at a cheaper price than Starbucks, which particularly addressed younger customers.
It is still unknown whether it can repeat this success in the United States. Luckin’s earlier business efforts in North America were not according to plan. In 2019 it applied for an IPO on the NasdaqBut was triggered after it admitted that it had lied through his income.
Starbucks has to struggle in recent years, partly due to activist investors and an uneven experience in shops. Last year the company pushed its CEO and Brian Niccol hiredformer CEO of Chipotle Mexican Grill. Since then he has cut menu items by 30% and instructed baristas to write messages on cups, simplify changes in order to simplify the business activities and to bring back the feelings of the connection. The company also hired A New CFO.
Luckin offers the same cold beers and hot coffee options such as Starbucks. It also has typical objects such as pineapple and raspberry versions of its ice coffee and “refreshments” that mix coconut milk, fruit juices and cold foams.
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