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Starbucks Faces Double Trouble As Luckin Coffee And Chagee Target U.S. [Forbes]

Starbucks Corporation (SBUX)  More Company Research Source: Forbes
Last starbucks corporation earnings: 4/28 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
Watch out Starbucks, China is double trouble with a tea brand and a low-cost coffee rival, after Chagee and Luckin Coffee stepped up their bids to rival the U.S. coffee giant. As Chinese bubble tea chain Chagee prepares to open its in Westfield Century City in Los Angeles this spring, the company has also filed for a U.S. initial public offering on the Nasdaq. At the same time, there are reports that fellow Chinese beverage giant Luckin Coffee may now be planning to bring its low-cost coffee to the U.S., initially with a New York store. It will reportedly price drinks between $2 and $3, and aims to launch in cities with large Chinese student and tourist populations. If Chagee is successful and goes public on the Nasdaq, it will join a decreasing number of Chinese companies that have sought a U.S. listing, as relations between the White House and Beijing continue to remain chillier than an iced tea. PROMOTED Notably, the long anticipated U.S. IPO for fast fashion retailer Sh [Read more]
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