Chinese coffee giant Luckin has opened its first flagship store in Shenzhen, offering premium drinks to compete with Starbucks Reserve. The move marks a departure from Luckin’s budget coffee kiosk strategy, signaling a comeback from 2020 fraud allegations. The flagship store features higher-priced pour-over and cold brew coffee drinks, as well as specialty drinks like a “tiramisu latte.” Luckin reported a revenue increase of nearly 48% for the quarter ended Sept. 30, 2025.
In contrast, Starbucks, with over 8,000 stores in China, reported a 6% year-on-year increase in China net revenue to $831.6 million for the quarter ended Sept. 28. Starbucks plans to sell 60% of its China business to Boyu Capital. Luckin CEO hinted at plans to re-list the company in the U.S. after a fraud scandal led to delisting in 2020. Luckin is expanding globally, with stores in the U.S., Singapore, and Malaysia. 1. The stock market hit record highs today, with the S&P 500 closing at a new all-time high of 4,200. Investors are optimistic about strong earnings reports and a recovering economy.
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