Source: China Business Daily
On March 31, 2023, two Luckin Coffee stores in Singapore opened together and entered the trial operation stage, according to China Business Daily,
The two stores are located in Singapore’s fashion trend gathering place, Orchard Road Ngee Ann City, which is known as the “Ginza” of Singapore, and the Marina Plaza, a seaside shopping center. Local consumers can enjoy a cup of high-quality coffee when they place an order through the Luckin Coffee app or scan the QR code on the spot; During the trial opening period, downloading the official APP can also enjoy the benefit of SGD 0.99 for the first drink. On the opening day, the store was crowded, and local consumers rushed to check in and place orders to try out early.
Further, there are more stores to come. It is expected that by the end of April, 8-10 Luckin Coffee stores will successively start trial operations in the local area.
“‘Creating a world-class coffee brand and making Luckin a part of people’s daily life’ is our corporate vision, and the establishment of the Singapore store is the first step for Luckin Coffee to go overseas. Although it is still in the early stage of development and testing, we hope to cultivate the Singapore market for a long time, bring consumers a new consumption experience, and inject new vitality and development momentum into the local coffee market.” Said Dr. Guo Jinyi, chairman and CEO of Luckin Coffee.
It is understood that in terms of store planning, like the Chinese market, Luckin Coffee will open PICK UP stores and RELAX stores in Singapore for different scenarios. The Ngee Ann City store on Orchard Road and the Marina Square store that debuted first are PICK UP stores. In addition, local stores have also continued to use the domestic “classic coffee + popular products” menu. Master Coffee, SOE Little Black Cup, Rena Ice, which are familiar to domestic consumers, as well as popular products – Raw Coconut Latte, Velvet Latte, Thick Milk Latte, etc. have all appeared on the menu in Singapore. In the future, Luckin Coffee will also launch special new products for the local market.
As a leading new coffee retail company in China, Luckin Coffee has broken the development model of traditional chain brands, making full use of mobile Internet and big data technology to reconstruct the new retail business model, so that consumers can easily obtain high-quality, high-convenience coffee, cost-effective freshly ground coffee. The Italian blend coffee beans created by Luckin Coffee and the WBC champion team won the gold medal in the IIAC International Coffee Tasting Competition for five consecutive years; The “SOE Yirgacheffe” of the Little Black Cup series won two platinum awards in the IIAC International Coffee Tasting Competition.
In addition, as one of the largest chain coffee brands in China, by the end of 2022, Luckin Coffee had 8,214 stores across the country, and its revenue exceeded 10 billion in fiscal year 2022. Sustained and steady growth is the foundation for the brand to gain a foothold in the country and go international. After more than five years of development and accumulation, Luckin Coffee has obvious advantages in terms of product strength, operational capabilities, and supply chain, and has the strength to deploy overseas. As the first stop of Luckin Coffee’s overseas market, the Singapore market will lay a solid foundation for its international market expansion, and Luckin Coffee’s global layout will be even more exciting.