China’s Starbucks Challenger Eyes Middle Eastern Foray

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Humanoid Robot Maker Unitree Advances Toward $618 Million Shanghai IPO; In Depth: Huawei’s Bid to Rewrite the Rules of Chip Scaling; Chinese Chipmaker YMTC Claims 13% of $46 Billion Global NAND Market

LATEST: DJI, Insta360 Lock Horns in Camera Pricing Standoff; Tencent Gains $53 Billion in Value on Reports of WeChat AI Agents; Chinese Chipmaker YMTC Claims 13% of $46 Billion Global NAND Market; China’s Robotics Funding Frenzy Picks Up; China Arms Itself With New Legal Tools to Scruntinize Overseas Investment; Zhipu Seeks $2.2 Billion Shanghai Listing to Fuel AI Expansion; In Depth: Huawei’s Bid to Rewrite the Rules of Chip Scaling; Humanoid Robot Maker Unitree Advances Toward $618 Million Shanghai IPO; MiniMax Eyes Shanghai Listing as China AI Firms Chase Capital; China AI Developer Zhipu Hits Record $112 Billion Valuation; Luxshare Gets Lenient Antitrust Fine Over Wingtech Deal; Flying-Car Startup Volant Raises $147 Million Ahead of Potential IPO; ChangXin Clears Key Hurdle for Record STAR Market IPO; Xiaomi Slashes AI Model API Prices by 99% to Match DeepSeek; Huawei Targets 1.4-Nanometer Chip Performance by 2031 With New Design Architecture; DeepSeek Cuts Flagship AI Model Prices by 75% as Funding Round Looms; Wingtech Sues Nexperia in China, Seeking $1.2 Billion and Control of Equity; DJI Says Mass Adoption of Delivery Drones, Flying Vehicles Still on the Distant Horizon; Nvidia Still Not Sure It Can Sell H200 Chips in China; Alibaba Expands AI Push With Model Update, New Chip

By Shen Xinyue and Tang Ziyi / Jul 22, 2019 06:59 PM / Business & Tech

Photo: VCG

Upstart Chinese coffee brand Luckin said Monday that it plans to launch a joint venture with Kuwait-based food company Americana Group.

The move aims to expand Luckin’s retail business to the Greater Middle East and India, according to the company’s statement. Luckin did not offer further details about the venture.

Touted as a domestic challenger to market leader Starbucks, Beijing-based Luckin has been rapidly expanding its model of minimalist stores and heavily discounted beverages. Since its establishment in 2017, it has opened over 3,000 cafes in China and plans to roll out another 1,500 by the end of this year, the company said in the statement.

That number would top Starbucks, which has said it aims to have 4,200 locations in China by then.

Americana Group mainly engages in food manufacturing and distribution, according to its website. It currently operates 1,900 restaurants in 13 countries across the Middle East and North Africa.

Contact reporter Tang Ziyi (ziyitang@caixin.com)

Share this article

Open WeChat and scan the QR code