Luckin Coffee announced on October 29 plans to enter the US market as early as next year, aiming to compete with Starbucks by offering low-priced beverages, particularly in cities like New York with a large population of Chinese students and tourists. In China, Luckin Coffee’s revenue exceeded that of Starbucks in 2023 for the first time, and the company hopes to undercut the Seattle-based giant and other US competitors like Dunkin’ by selling coffee for as little as $2 to $3. The US launch, planned for as early as next year, is set to target cities with high numbers of Chinese students and tourists, like New York.