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.
The results reflect an improved cost control strategy.
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.
The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
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.
Delivery giants Meituan and Ele.me stand to benefit from the coffee giants’ latest battle
Chinese consumers have reacted positively to the brand, which positions itself as an alternative to Starbucks.