The results reflect an improved cost control strategy.
Luckin Tea will launch a separate app and a mini-program focused on lower-tier cities.
The coffee upstart is expanding aggressively across product categories and markets.
Michael Norris from Agency China talks earnings. They go over the quarterly reports from Alibaba, JD, and Tencent, as well as Luckin Coffee’s very impressive report, which sent their stock soaring.
Shares slid overnight after losses hit nearly $100 million in the quarter.
The celebrity CMO is absent from corporate filings and press conferences of the newly public company whose growth he’s credited with jump-starting.
Users can locate the nearest coffee machine and place an order through the Luckin app.
Delivery giants Meituan and Ele.me stand to benefit from the coffee giants’ latest battle
Luckin’s expansion to the Middle East and India extend its competition with Starbucks to more markets.
This is the first time Luckin has sold branded merchandise as it evolves its marketing and branding strategy.