Luckin Coffee, Starbucks rival in China, files for US IPO

phys.org | 1/20/2019 | Staff
jenny1246 (Posted by) Level 3
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China's homegrown coffee chain Luckin Coffee has filed to list publicly in the US as the loss-making company battles to dethrone Starbucks in its home market.

Luckin estimated its offering size at $100 million in its Monday filing with the US Securities and Exchange Commission but noted the figure was only set to calculate registration fees.

Chain - Stores - March - Customers - Service

Since it was founded in 2017, the chain has built 2,370 stores as of March 31, focusing on offering customers quick grab-and-go service at its small stores or fast delivery to their homes and offices.

It uses a variety of coupons like free coffees and discounted cups to rope in customers and get them coming back to its stores.

Strategy - Mirrors - Tactics - Startups - Western

The aggressive strategy mirrors tactics used by other Chinese startups that have dislodged Western brands from one of the world's top...
(Excerpt) Read more at: phys.org
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