date:Jan 02, 2019
ommon situation for young startups.
We haven't set a timetable for profit, spokesman Du Yang told.
In December, the company raised $200 million in new funding from investors, giving it a valuation of more than $2 billion, according to Du.
The long-term challenge for both Luckin and Starbucks is converting more of China's traditionally tea-drinking population to coffee.
People in China consume just five cups of coffee a year on average. Americans guzzle about 400.
The question for them now i