Chinese coffee giant Luckin Coffee has opened its first two US stores in Manhattan, marking its American debut as it eyes Starbucks’ home turf. The Xiamen-based chain launched Monday in Greenwich Village and Chelsea, following playful teasers on social media. Founded in 2017, Luckin now operates more than 24,000 stores across Asia. Despite past scandals, the company’s profits surged 41% last quarter. Its cashierless, app-based model helped it surpass Starbucks in China last year. Luckin’s US prices roughly match Starbucks’: A drip coffee costs $3.45, just below Starbucks’ $3.65. The company boasts 120 million registered app users, far outpacing Starbucks’ 34 million US loyalty members. Whether Luckin’s tech-driven, low-cost strategy that succeeded in China will resonate stateside remains to be seen. Starbucks, which has more than 17,000 US stores, is already fighting slowing sales with a brand overhaul. [CBS News]
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