Luckin Coffee’s net revenue surges by 38% YoY in FY2024
Total number of stores increased by 37.5% YoY to 22,340.
Luckin Coffee's total net revenue increased by 38.4% year-on-year (YoY) to US$4.72b (RMB34.47b) for FY 2024.
Revenues from self-operated stores were US$3.51b (RMB25.59b), representing a 43.1% YoY increase.
Meanwhile, revenues from partnership stores increased by 24.4% to US$1.06b (RMB7.75b).
Same-store sales for self-operated locations declined by 16.7%, a drop from the 21% growth recorded in FY 2023.
Net new store openings were 6,092, comprising 6,071 stores in China—including 5 stores in Hong Kong—and 21 stores in Singapore.
The total number of stores increased by 37.5% YoY to 22,340, comprising 14,591 self-operated stores and 7,749 partnership stores.
“Looking ahead, we are strategically positioned to capitalise on the growth opportunities in China’s thriving coffee market,” said Dr. Jinyi Guo, chairman and CEO of Luckin Coffee.
