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Starbucks’ China rival Luckin Coffee plans first foray overseas — Trend News Agency

Read more at Trend News Agency

— Starbucks’ (SBUX.O) Chinese challenger, Luckin Coffee (LK.O), plans to open coffee shops in the Middle East and India, in its first move overseas, reports Trend citing to Reuters.

Luckin, which raised $561 million in May in a U.S. initial public offering, said on Monday that it had signed a memorandum of understanding to set up a joint venture with Kuwait’s Americana Group to launch the business in the Greater Middle East and India regions, without providing further details…

July 22, 2019

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