Blue Bottle acquired by China's Luckin Coffee

Blue Bottle is being acquired by Chinese coffee company Luckin and Blue Bottle is one of my favorite coffee companies in the entire world. I am really curious what this means. Blue Bottle was founded in the Bay, they're kind of a Silicon Valley darling. They even raised venture capital money from Google Ventures, Morgan Stanley, I think even Bono. Eventually they faced exit pressure and sold 68% to Nestle for $400 million. And the Nestle era is kind of interesting. They did grow from about 30-40 stores to 100, but some of the other stuff, I don't know. They closed down their second oldest store in San Francisco. They even released this instant coffee which they claimed would replace espresso machines. If you've ever been to Blue Bottle, most of their coffee is hand poured. Trying to get rid of espresso machines just doesn't feel like the brand. Nestle is likely selling Blue Bottle because of their new CEO and his new strategy moving away from physical stores, which makes sense because Nestle's core competency is CPG and their massive manufacturing and distribution channels. I don't know if I see synergies with Luckin either. Luckin is China's largest coffee company. They operate these hyper efficient pickup only stores that compete on price and variety. 2020, they were actually delisted from the Nasdaq because of accounting fraud, but it seems like they're recovering. They just passed 30,000 stores last month. What this means for Blue Bottle and whether Blue Bottle will become more like Luckin or whether Luckin will try to go up market.