The coffee upstart is expanding aggressively across product categories and markets.
Luckin’s expansion to the Middle East and India extend its competition with Starbucks to more markets.
The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
The company is currently worth $2.2 billion following a $200 million round of funding in December.
Coffee Box seeks to regain profitability amidst heightened competition and a cooling capital market.
Coffee competition expands to second-and third-tier cities in China.
Subsidies play a key role in the coffee company’s plan to seize the Chinese market.
Coffee Box began by offering delivery services from coffee chain brands including Starbucks.
With tech giants moving aggressively into new retail, the coffee market is reaching its boiling point.
China’s “new retail” startup Luckin Coffee announced today to accelerate and expand its business in light meals and snacks. The news comes just days after rumors that Luckin’s biggest competitor Starbucks is planning to deliver coffee with the help of Alibaba-owned food delivery platform Ele.me. During its press event on August 1st, Luckin introduced a price […]