Starbucks' China rival Luckin surges in market debut

  • 📰 Reuters
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 97%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

Shares of Luckin Coffee Inc surged as much as 52.7% in their market debut on Fri...

- Shares of Luckin Coffee Inc surged as much as 52.7% in their market debut on Friday, indicating strong investor demand for the self-declared challenger to Starbucks Corp in China.

“For us, brand is very, very important. If you’re a listed company, particularly in the U.S., that will elevate your brand even further than what it is today. So helps us with branding,” Chief Financial Officer Reinout Schakel said in an interview at the Nasdaq. Luckin’s expansion is in stark contrast to Starbucks, which opened its first China store in 1999 and has spent two decades reaching its current store count.

Luckin’s innovation on how consumers enjoy a cup of coffee sets it apart, said Zephirin Group analyst Lenny Zephirin in a note. “We believe this will continue to support above-industry growth in the coming years.” However, Luckin’s expansion comes at the cost of an aggressive cash burn. It relies heavily on cheap delivery and big discounts as a key strategy to attract customers.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 2. in İD
 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Luckin makes a good cup of coffee.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Stocks making the biggest moves midday: Cray, Pinterest, Luckin Coffee & moreThese are the stocks posting the largest moves midday. Just saw one of you guys reporting on the sale of Tesla stock. The story is at least three days old and T. Rowe sold the shares months ago.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »