Luckin Coffee, China's largest coffee chain that became highly popular after it priced a cup at just 9.9 yuan ($1.36), has announced rate hikes across its product lineup, leaving many office workers feeling the pinch.
In the wake of Luckin's price increase, Starbucks is considering selling a stake in its Chinese operations, while Beijing-headquartered Cotti Coffee has suspended its shop-in-shop franchise model.
