China's Luckin coffee raises $150m in push to ovetake Starbucks

文章来源: CHINA INTELLECTUAL PROPERTY NEWS
发布时间: 2019/4/24 10:18:00

  Chinese coffee start-up Luckin has raised $150m from investors including US asset manager BlackRock in a funding round which values the company at $2.9bn, as it pushes to overtake Starbucks by number of outlets in China. A private equity fund managed by BlackRock led the funding with $125 million, Luckin said. The company said last year it plans to open 200 to 300 outlets a month, putting it on track to overtake Starbucks, which has over 3,300 locations in China, by the end of this year. (China's Luckin coffee raises $150m in push to ovetake Starbucks, Financial Times)


  Comment:


  In order to build a distinctive brand in coffee market, Luckin has been committed to creating new marketing patterns and experiences. The innovative business ideas of Luckin are of significance to reshape coffee culture in China and attract many young customers as well.



(Editor Shao Jingjing)


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