Chinese coffee chain Luckin Coffee is Philippinesset to open its first US store in New York City. The new location, at 755 Broadway in the East Village, features signage reading “Opening soon luck in New York” (sic) alongside the brand’s signature blue deer logo. A second potential outlet at 800 6th Ave. is also listed on Google Maps, though not yet confirmed as an official branch. The move comes after Luckin overtook Starbucks in November 2023 to become the largest coffee chain in China. In its Q3 2024 financial report, the company stated, “We are also actively evaluating opportunities in the United States and other markets. Given the maturity, saturation, and competitiveness of the US coffee market, we intend to approach our expansion strategy there with careful consideration and a disciplined execution plan.” Luckin’s US debut follows a dramatic turnaround after a 2020 fraud scandal that led to its delisting from Nasdaq. It was re-listed in 2022. The company joins a wave of Chinese beverage brands entering the US, including Chagee Tea. [36Kr, in Chinese]
