China's biggest coffee chain looks to brew up business in US скачать в хорошем качестве

China's biggest coffee chain looks to brew up business in US

A battle is brewing between China's largest coffee chain, Luckin, and its chief US rival, Starbucks. In 2023, Luckin surpassed the Seattle-based java giant as the biggest coffee chain in China. Since then, the Xiamen-headquartered franchise opened stores in Malaysia and Singapore. Now it’s setting its sights on America. At the end of June, Luckin opened its first two ever US locations in New York. Luckin's business model appeals to younger demographics-including students on a budget and young professionals. In part, because of its app-only order platform … and cashierless stores. And app users are regularly treated to steep discounts and promotions...So far proving to be as irresistible as the coffee. Its strategy - including opening smaller storefronts than Starbucks - seems to be paying off. 2025 second quarter results show Luckin had overall net revenue of more than us$1.7 billion. That's an almost fifty percent increase compared to a year ago. It comes at a time when its long-established rival, Starbucks - with more than 17-thousand stores in the US, is cutting prices in China and recently announced a $1 billion restructuring plan. That includes shrinking its global footprint, closing hundreds of stores nationally, and laying off about two thousand employees this year. Amid Starbucks' bitter choices, Luckin is betting its good fortune continues to percolate, expanding its global footprint to more than 24,000 stores. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What's up today in Shanghai, the most updated news of the city    • Плейлист   ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them    • Amazing Shanghai and China 淘宝魔都玩转中国   ■ What Chinese people's lives are like during the post COVID-19 period    • COVID-19 新冠疫情   ■ Views of foreign scholars on China and its affairs    • Voices, Let's Listen! 听她他说   ■ Foreign faces in Shanghai, people living in this city sharing their true feelings    • Плейлист   ■ Mini-docs showing why China is the country it is today    • Stories & Documentary 奇闻逸事记录中国   __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!