Lates News

On July 30th, Luckin Coffee announced that its net revenue from April to June totaled 12.359 billion yuan, a year-on-year increase of 47%. It is now more than double the size of Starbucks in China during the same period, with the latter reporting revenue of about 5.68 billion yuan in the latest quarter. With the current growth momentum, Luckin is expected to surpass the 50 billion yuan mark for the whole year. On June 30th, Luckin opened two stores in New York, located on Sixth Avenue and Broadway respectively, with a store model of PICK UP focusing on white-collar workers, students, tourists, and other groups. It is understood that the menu prices at its American stores range from $3.45 to $7.95. For example, an Americano is priced at $4.45, while a latte or cappuccino is priced at $5.75, overall slightly lower than Starbucks' pricing (21 Finance).