China's unicorn Luckin Coffee burning millions to overtake Starbucks

China's unicorn Luckin Coffee burning millions to overtake Starbucks

A Luckin Coffee store in Beijing. Photographer: Gilles Sabrie/Bloomberg

Luckin Coffee, a Chinese startup that’s banking on selling cappuccinos to on-the-go office workers, is spending millions of dollars a year opening outlets to unseat Starbucks Corp. as the top java seller in the country.

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