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  • 5 Post By si0001

Luckin Coffee, China's unprofitable Starbucks rival, goes public

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  1. #1

    Join Date
    Jan 2011
    Posts
    2,269

    Luckin Coffee, China's unprofitable Starbucks rival, goes public

    Luckin Coffee, Chinese Rival to Starbucks, Jumps in Its U.S. Trading Debut
    Luckin Coffee, an unprofitable start-up offering big giveaways and aggressive subsidies, burst less than two years ago into a Chinese coffee scene long dominated by Starbucks.
    By the end of 2018, Luckin held just over 2 percent of the market... the next-biggest competitor to Starbucks, the McDonalds-owned McCafe, has just 5 percent of the market
    Money spent on growth led the company to record a net loss of $475 million in 2018. So far this year, the company has racked up losses of $85 million.
    Good luck-in to them.

  2. #2

    Join Date
    Mar 2007
    Posts
    1,604

    I went to one of their stores a while back. I went up to the counter and asked for a latte, was told that I had to download the app and order/pay on there. Well, I could not be arsed doing all that so I left and went to Starbucks a few doors down.

    mrgoodkat, huja, Mefisto and 2 others like this.

  3. #3