Luckin Coffee planning comeback, U.S. launch, FT reports

Luckin Coffee (LKNCY), China’s largest coffee chain, plans to enter the the U.S. market as early as next year and is building out its supply chain and customizing its technology for the market amid efforts to undercut rivals like Starbucks (SBUX) with its low-priced drinks, The Financial Times’ Eleanor Olcott and Gregory Meyer report, citing two people with knowledge of the matter. The expansion comes nearly five years after Luckin was exposed for inflating revenues after its 2019 IPO, which led to a wave of investor lawsuits and the company being kicked off the main Nasdaq exchange.