KUALA LUMPUR (June 20): US-listed Chinese coffeehouse chain Luckin Coffee Inc is poised to make its debut in Malaysia amid fierce market competition, sources told The Edge.

The entry comes at a time when Malaysians are spoilt for choice from the rising number of brands and outlets competing to fill in a gap left by Starbucks as the American franchise faces protracted consumer boycotts due to Middle East tensions.

Luckin Coffee will be roping in a Bursa Malaysia-listed firm as its local partner armed with an ambitious stores expansion plan in the next five years, according to sources.

A letter of intent will be signed as early as Thursday, while the master agreement could be finalised within the next two to three weeks, the sources said.

Founded in 2017 and headquartered in Xiamen, Luckin Coffee operates 18,590 stores worldwide, excluding unmanned machines, as at March 31 this year.

In China, Luckin Coffee’s store count hit a record high with over 2,340 net new stores opened in the first quarter of this year alone. The company now has 18,558 stores in China, of which 12,167 are self-operated stores and 6,391 partnership stores.

Luckin Coffee and Kweichow Moutai Co Ltd had in September 2023 jointly-launched the Jiangxiang flavoured latte, which became an instant hit upon its release.

On its debut, it sold 5.42 million cups, raking in sales that surpassed RMB100 million (RM64 million), setting a record for Luckin Coffee’s new product launches. By the end of last year, the Jiangxiang flavoured latte sold a total 45.83 million cups, with total sales exceeding RMB900 million.

Outside China, Luckin Coffee has 32 stores in Singapore, its only international market.

Luckin Coffee made its Wall Street debut in May 2019, before it was delisted from Nasdaq in June 2020 following an accounting scandal. The US Securities and Exchange Commission accused Luckin Coffee of fabricating sales, as well as inflating costs and expenses.

However, its American Depository Receipts (ADRs) still trade over the counter in the US.

only remember they harvest 9 US investor

will get boicott or not?

Ops

Bukan Zus yang affected….

Starbucks yang terkorban nanti..

starbucks already irrelevant. In my area they open a new outlet for 6 months and shuttled. Whereas ZUS can open 2 outlets in the same area within 5 mins drive from each other

Other than food, more than 60% of what you buy in Shopee and lazada also have China roots. So stop shopping on line altogether?

US-listed Chinese coffeehouse chain Luckin Coffee

lol

Yup

Anneh see Zus open coffee shop at shop lot oso quite smart

Open at intermediate lot. Not corner lot. Rental gonna be a lot cheaper.

Bright white and blue colour from outside.

Ppl will notice.

Got 1 just open at shah ale seksyen 20.

In front of Secondary school.

Many teacher, parents and their school kids come during peak hour bungkus drinks and some pastry.

"Luckin Coffee will be roping in a Bursa Malaysia-listed firm as its local partner armed with an ambitious stores expansion plan in the next five years, according to sources."

Berjaya Food? They gonna give up starbaks?

Noice..

I cant wait to try

Who knows... Luckin could buyout Starbucks worldwide one day

Agree that Zus and Gigi is vulnerable....... just looking at how Mixue is expanding will shake their knees...

Starbucks lost cause edi.

Just throw it under the bus and greet their new unicorn golden goose coffe shop franchise 🤣🤣🤣

Can only buy using wechat

latte rm6.50 which is cheaper then taobin then i shift bandwagon..

anyway to me gigi latte indonesia > zus latte boss or lydia

the luckin coffee founder's new brand cotti coffee oredi masuk malaysia lo

Agree. Me same taste too. Gigi coffee > Zus

Coffee for the weak

yeaa.. gigi beans has thicker taste and better aftertaste susah mau explain hahahha