The results reflect an improved cost control strategy.
The coffee upstart is expanding aggressively across product categories and markets.
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.
Luckin’s expansion to the Middle East and India extend its competition with Starbucks to more markets.
Luckin Coffee is projected to have the largest coffee network in China by the end of 2019 at its current rate of growth.
Chinese consumers have reacted positively to the brand, which positions itself as an alternative to Starbucks.
A web of CAR Inc and UCAR personnel, resources and investors are behind Luckin’s expansion.
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.