Luckin Coffee, which is often referred to as the “Starbucks of China”, is set to expand South East Asia for the first time through franchising, with the opening of ten outlets in Singapore by the end of April, according to Singaporean Chinese daily Lianhe Zaobao.
In China, the coffee giant currently operates more than 8,200 stores, surpassing Starbucks which has “more than 6,000 stores” in the country.
Last year, there were reports that Luckin Coffee was in discussions with new franchise partners in Thailand, with potential plans to expand into cities beyond Bangkok and Phuket.
This launch in Southeast Asia will be the company’s second attempt at international expansion, after having previously expanded into India and the Middle East.
Luckin Coffee reported total net revenue of US$1.9 billion for its 2022 fiscal year in its latest financial report.
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