Luckin Coffee has more stores than Starbucks in China.
Transcript:
China’s largest coffee chain is officially coming to the U.S. Luckin Coffee, which has more than twice as many stores than Starbucks in China, plans to open its first stateside location in Manhattan.
Luckin Coffee is known in China for low prices and quirky flavors. Customers can get a cup of coffee for as little as $1.40. In addition to its stores, the company also has its own coffee bean roasting and processing plant, allowing it to keep prices lower. As for the drinks – when it introduced an alcohol-infused latte in 2023, it sold more than 5 million cups on the first day it was made available. Luckin introduced over 100 new items in 2024 alone.
Luckin has made a massive comeback after a fraud scandal rocked the company back in 2019. Its COO at the time was accused of manufacturing most of the company’s sales numbers that year. That led to it getting delisted from the Nasdaq in 2020. But since then, shares of Luckin have risen 10-fold.
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