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Chinese Coffee Chain Wants To De-Throne Starbucks, But Experts Say Its Business Model Will Never Work
Yahoo Finance· 2025-09-22 23:03
Luckin Coffee surpassed Starbucks (NASDAQ:SBUX) as the largest coffee chain in China in 2023. Now, it's setting its sights on the U.S. Luckin opened its first U.S. store in New York City's East Village neighborhood earlier this spring. As of this month, the company has five locations across the city. Luckin stores operate without cashiers, requiring customers to place orders through the company's mobile app. Their prices are on par with Starbucks, CNBC reports, but the app often offers consumers discount ...