Luckin Coffee Takes on Starbucks with High-End Flagship Store in Shenzhen

Luckin Coffee has opened its first high-end store in Shenzhen, China, marking a departure from its budget-priced coffee kiosks. The store sells premium drinks, including pour-over and cold brew coffee, and taps into the geographical sourcing "origin" theme popular with Starbucks. The store is Luckin's 30,000th store and signals intense competition in China's coffee market, where Luckin has reported a nearly 48% increase in revenue for the three months ended Sept. 30.