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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...
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