Chinese coffee giant Luckin Coffee eyes US entry | QSR Media
, China
138 views
Press photo. /Luckin Coffee.

Chinese coffee giant Luckin Coffee eyes US entry

The brand reported an operating income of $222.1m in Q3.

Luckin Coffee is planning to open in the US, according to its third-quarter financial report.

“Given the maturity, saturation, and competitiveness of the U.S. coffee market, we intend to approach our expansion strategy there with careful consideration and a disciplined execution plan,” Luckin said.

Luckin has continued to dominate the coffee scene in China, beating several strong brands in the market.

Luckin reported total net revenues in Q3 reached $1.45b, representing an increase of 41.4% from the same quarter last year. GAAP (Generally Accepted Accounting Principles) operating income in the third quarter was $222.1m, representing a GAAP operating margin of 15.3%, compared to $135.04m, or a GAAP operating margin of 13.4%, in the same quarter of 2023.

Non-GAAP operating income in the third quarter, which adjusts for share-based compensation expenses, was$236.1m.

As of 30 September 2024, Luckin Coffee has a total of 21,343 stores.

Follow the link for more news on

Join QSR Media community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Grill’d debuts in Tasmania
They will be giving away 754 free burgers on its opening day on 6 December.
Franchising
Oakberry Açaí unveils new Pistachio Spread topping
The brand will give away a free Pistachio Spread topping on 6 December to celebrate its 6th anniversary.
Menu Innovations