- 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.
Luckin makes a good cup of coffee.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Starbucks' China rival Luckin serves up a hot debutShares of China's Luckin Coffee Inc surged 47% in their market debut on Fri...
Source: Reuters - 🏆 2. / 97 Read more »
Starbucks' China challenger Luckin Coffee will likely price IPO at high end of range or aboveStarbucks' China challenger Luckin Coffee is preparing for its public debut Friday on the Nasdaq. I’ll drink to that
Source: CNBC - 🏆 12. / 72 Read more »
Starbucks' China challenger Luckin raises $561 million in U.S. IPO: sourcesLuckin Coffee Inc, the Chinese challenger to Starbucks Corp, on Thursday priced ... Why would s Chinese business be on NYSE? 700club cbngordon randpaul realDonaldTrump kennedynation foxnews sandrasmithfox marklevinshow rushlimbaugh danarohrabacher jaysekulow judgenap tedcruz dbongino Wow IPOs are doing great and so are start up investments, however helping another person with nothing to gain but the joy of helping has declined, even if the gift is just $1 I'd really appreciate it if you would share and donate to my Med Tuition Any one do business w China, pls do not do IPO in USA, American public will suffer! No business w China, period. They are communists, fake, fake, fake & fake. Gov't controls all businesses--how awful!
Source: Reuters - 🏆 2. / 97 Read more »
Starbucks' China challenger Luckin raises $561 million in U.S. IPOStarbucks' China challenger Luckin raises $561 million in U.S. IPO via ReutersJF HarryBrumpton julie_zhuli JF HarryBrumpton julie_zhuli Photograph artfully make the lowercase L nearly look like a lowercase F... JF HarryBrumpton julie_zhuli Burn money 💰 🔥
Source: Reuters - 🏆 2. / 97 Read more »
Luckin Coffee IPO won't stop Starbucks' stock breakout, technical analyst saysStarbucks shares hit an all-time high ahead of Chinese rival Luckin Coffee revealing the pricing for its initial public offering.
Source: CNBC - 🏆 12. / 72 Read more »
Coffee wars: China's Luckin gains on Starbucks - Reuters TVLuckin Coffee, the Chinese challenger to Starbucks, is going public this week. It's official launch was only early last year, but it's already waging a caffeine war against its U.S. rival in China.
Source: Reuters - 🏆 2. / 97 Read more »
Luckin Coffee's stock soars in its debut, as it opens nearly 50% above its IPO priceLuckin Coffee Inc.'s stock debuted with a bang on the Nasdaq, as it opened nearly 50% above its initial public offering price. The first trade was at $25 at... RoqueJc2010 What's up with the excitement with money losing communists run companies these days?
Source: MarketWatch - 🏆 3. / 97 Read more »
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.
Source: CNBC - 🏆 12. / 72 Read more »
Luckin investors are short America, long lunacyAn unprofitable Chinese coffee chain that didn’t exist two years ago was valued at $6 bln within minutes of its New York IPO. Luckin is well placed if frosty Sino-American relations ping back on U.S. rival Starbucks. Beyond that, the debut is every bit as irrational as it sounds.
Source: Breakingviews - 🏆 470. / 51 Read more »
Luckin Coffee Inc. ADRLuckin Coffee Inc. ADR stock price, stock quotes and financial overviews from MarketWatch. Fat chance. The coffee isn't that great and people in China go to Starbucks not just for the coffee but to relax and be seen. A knockoff is always a knockoff.
Source: MarketWatch - 🏆 3. / 97 Read more »