Luckin Coffee, a Chinese network that has surpassed Starbucks in its domestic market, is increasing the pressure with the opening of its first units in the United States in New York on Monday (7).
The opening of two stores in New York brings to the US a growing competition between the Chinese network and Starbucks, which faces sales in the US market. In China, Seattle -based business have been harmed by lower prices, such as Luckin.
Starbucks declined to comment. Luckin did not respond to the request for comment.
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Luckin’s new unit, located on 800 on the sixth avenue, was full of customers on Monday, many enjoying a drink promotion for $ 1.99 through the Luckin app.
Luckin recently announced its inaugurations in New York, promoting a temporary store for free tastings and gifts. The company’s account in Instagram has already over 2,000 followers.
Luckin expanded rapidly in China before being removed from the Nasdaq bag by 2020 due to an accounting scandal. After a change in leadership, the network surpassed Starbucks to become China’s largest coffee retailer in 2023. He currently has over 24,000 stores globally and seeks to expand further.
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Starbucks lost space in China after Covid’s pandemic. The company has also sought to increase US employees to try to reverse the drop in sales, accelerating service.
The Luckin app offers online orders and withdrawal at the store, as well as Starbucks, and includes a point system that allows discounts and a chance to earn free coffee for a year.
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