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.
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
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
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."
"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?
Starbucks lost cause edi.
Just throw it under the bus and greet their new unicorn golden goose coffe shop franchise 🤣🤣🤣
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
wasn't there a big ass documentary that china made about how this coffee chain is a scam and they even went into lengthy explanation on how its business model is a scam and they are dying in china? still can survive enough to infect other country? lol
wasn't there a big ass documentary that china made about how this coffee chain is a scam and they even went into lengthy explanation on how its business model is a scam and they are dying in china? still can survive enough to infect other country? lol
wasn't there a big ass documentary that china made about how this coffee chain is a scam and they even went into lengthy explanation on how its business model is a scam and they are dying in china? still can survive enough to infect other country? lol
accounting fraud only, they reported fake figures, setled liao, the biz model itself no issue, just that the ex-management ppl got desperate n bodo
I didn't get the chance to try it in China. Definitely looking forward for it. Hopefully Starbucks won't close shop with this fierce competition as I like their almond milk latte very much.
One coffee bought = one Ughyur get send to CCP reeducation camp
Where got that many Ughyur? They already sold 45.83 millions last year alone. Unless it is measured by one coffee bought = 1 hour of brainwashing cost for Ughyur then maybe lah.
Thai woke youth mmg anti ccp … they really hate China … they even have milk tea alliance With HK andee Taiwan to fight China Meanwhile Malaysia is quite mild . You wont see similar boycott Like starbucks even With Uyghur issues
How cheap? If same price like Zus and others, then why choose it? Give some incentive lah like MiXue, RM3 per coffee?
I don't think they will position their pricing lower than Zus.
Just a parameter of Latte between Luckin and Starbucks pricing in SG
SB Latte 7, Luckin 5.60 but they have a list of signature latte which is quite good so far I tried few ie coconut latte, toffee latte, big cheese latte, creamy dreamy latte at av 6.60
Matcha series at av 6.60, Američano at av 5.60, SOE ard 6.40
This post has been edited by jojolicia: Jun 20 2024, 03:36 PM
Zirty Latte is probably the best of the non-sweet coffees. For the sweet part, there's the Vietnamese and Spanish Lattes.
But none of them can compare to the latest SOE Columbian Papayan reserve. Holy crap that was really good.
their latest SOE seem interesting, may try and see if it can beat the CBTL's SOE or not....i remember it's really good but only bought it because of promo....full price is
Problem with Gigi is their QC. The coffee at every branch is not consistent. Different branch has different taste to the americano even though the same beans
Zus taste is consistent among all their outlets i been too
Starbucks don't compete directly with Luckin pun In China they coexist together, Starbucks target the T20 kind while Luckin just like our Zus
Its likely Zus to die first la if Luckin make its way here
K0te Starbucks much bigger than Zus, Starbucks making losses won't knock dents into Vincent Tan's empire, but Zus CEO would dress in baju melayu wearing songkok pleading Msians don't boycott him
This post has been edited by dattebayo: Jun 20 2024, 08:38 PM
Starbucks don't compete directly with Luckin pun In China they coexist together, Starbucks target the T20 kind while Luckin just like our Zus
Its likely Zus to die first la if Luckin make its way here
K0te Starbucks much bigger than Zus, Starbucks making losses won't knock dents into Vincent Tan's empire, but Zus CEO would dress in baju melayu wearing songkok pleading Msians don't boycott him
Zus can try some bad press on Luckin. Maybe say this one is Komunis coffee, so jom boycott. Maybe use the Xinjiang angle. Topkek
Remember how Zus start supporkting Palestine? What angle now to use when faced with Tongsan coffee?
"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?
If their menu price is on par or lower than what we have now, sure la laku
Starbucks don't compete directly with Luckin pun In China they coexist together, Starbucks target the T20 kind while Luckin just like our Zus
Its likely Zus to die first la if Luckin make its way here
K0te Starbucks much bigger than Zus, Starbucks making losses won't knock dents into Vincent Tan's empire, but Zus CEO would dress in baju melayu wearing songkok pleading Msians don't boycott him
Exactly- the heck - some delusional mind indeed -
Loving starbucks now - free of certain types and so peaceful and pleasant to hangout at.
Starbucks and mcd kind of corporate can stand to lose for years. And retune their base line with profit @2025
"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."
I don't even know how the news got leaked out so quickly. And now only realised that our Company share price suddenly shot up by over 40%. Always missed the ⛵.
Jun 20 2024, 01:29 PM, updated 2y ago
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