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.
Shares slid overnight after losses hit nearly $100 million in the quarter.
Users can locate the nearest coffee machine and place an order through the Luckin app.
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.
The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
The IPO filing comes a week after the company’s $150 million Series B+ that is raised at a valuation of $2.9 billion.
Luckin Coffee and Tencent have been partners since Sept. 2018.