CNBC AI News – July 1st: Luckin Coffee has officially planted its flag in the United States, marking a significant expansion into Starbucks’ home turf. The Chinese coffee giant, which has notably surpassed Starbucks in its domestic market, announced the opening of its first U.S. stores in New York City via its Xiaohongshu (Little Red Book) channel.
The initial two locations are strategically situated at 755 Broadway and 800 Sixth Avenue in Manhattan.
Industry observers suggest these placements, near New York University, are a calculated move to tap into the substantial Chinese student demographic, a key consumer segment for the brand.
This U.S. debut follows a period of remarkable growth for Luckin Coffee. In 2023, the company’s total net revenue surged past 20 billion yuan, outperforming Starbucks’ sales in China for the first time.
By the close of 2023, Luckin Coffee commanded an impressive footprint of 16,218 stores across China, solidifying its position as the largest coffee chain in its home market.
With a global presence now exceeding 24,000 stores, Luckin Coffee is clearly in an aggressive expansionary phase, and its American ambitions signal a new chapter in the global coffee wars.
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/3705.html
