Starbucks Faces New Competition from Low-Cost Chinese Rival Luckin Coffee
Luckin Coffee, a Chinese coffee chain that has overtaken Starbucks as the largest coffee chain in China, is expanding to the US market with plans to sell its signature low-cost drinks for $2 to $3. This new entrant threatens Starbucks’ dominance in American coffee-drinking culture, which saw millions of customers leave the brand last year … Read more