Starbucks faces new threat as $2 coffee chain that is dominant overseas expands to the US
Starbucks lost millions of customers last year — and now faces a rapidly-expanding Chinese competitor for American coffee-drinking dominance. Luckin Coffee — which has overtaken Starbucks as China's largest coffee chain — is brewing up plans to bring its signature low-cost drinks to a new shop in New York City. The Chinese brand plans to sell coffee for $2 to $3 in US, while Starbucks typically charges $6 to $7 for a cup in New York.
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