a day ago
China's Answer to Starbucks Opens First US Locations in NYC
Luckin Coffee Inc., the Chinese chain that overtook Starbucks back in its home market, is turning up the heat with the opening of its first US locations in New York on Monday.
The move to open two New York locations brings stateside a growing competition between the Chinese chain and Starbucks Corp., which is struggling with declining US sales. In China, the Seattle-based company's business has been undercut by lower-priced homegrown rivals such as Luckin.
