One of the best things about Malaysia is the plethora of choices we get when it comes to food and beverages. With that said, fierce market competition in inevitable, but for Luckin Coffee, it seems like they have their eye set on the prize.
Luckin Coffee to make its debut in M’sia with a local partner
According to The Edge, it was reported that Luckin Coffee, a famous coffeehouse chain in China is set to debut in Malaysia, along with the help of a local partner. Despite fierce market competitions, the China founded coffeehouse is targeting to enter into Malaysia, providing yet another choice for Malaysians.
“In the next 5 years, we will be expanding in Malaysia vastly”, said the coffeehouse, adding that it has the intent to rope in a Bursa-listed Malaysia firm as its partner.
Source: The China Project
With that said, a letter of intent is rumoured to be signed as soon as Thursday (20 June), while the master agreement will be finalised and signed within the next 2 to 3 weeks. Founded back in 2017, Luckin Coffee has expanded to over 18,000 stores globally, excluding unmanned stations.
Opening up to 2,340 new stores in the first quarter this year, followed by its newly launched Jiangxiang flavoured latte, the famous coffee chain sets a new record for themselves, garnering over RMB100 million (RM64 million) sales. As of now, the only international market that Luckin has entered is Singapore, standing strong at 32 stores.
Source: Asia 361
With that said, Malaysians can expect an announcement of the coffee chain’s first store really soon! Stay tuned for more updates.
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