Luckin Coffee Inc.

Overview

Luckin Coffee Inc. is a technology-driven retail coffee company offering freshly brewed coffee and tea drinks, alongside other beverages and food products. Its store network combines self-operated and partnership-operated locations, with pickup-focused formats central to its model.[1][2] The company states its mission as “To create lucky moments and inspire.” [3]

Founded in 2017, Luckin’s core market is China, and its reported footprint also includes Hong Kong, Singapore, Malaysia and the United States.[3][4] It reported 36,310 stores as of June 30, 2026; at year-end 2025, its network comprised 20,234 self-operated and 10,814 partnership stores.[4][5] At December 31, 2025, the company reported 43,709 full-time and 62,738 part-time employees, most based in China.[6] [1]+8

Products & services

Luckin Coffee’s products include freshly brewed coffee, tea and other non-coffee drinks, as well as packaged pastries, sandwiches, snacks and light meals. Signature coffee offerings include Coconut Milk Latte and Orange Americano, alongside coconut-milk, Fruity Americano and Little Butter series. The company also sells Light Milk Tea, Freshly Gentle Jasmine Milk Tea, Freshly Light Longjing Milk Tea, Kale Fruits and Veggies Tea, Mango Pomelo Sago, Light Coffee Lemonade and Luckin Exfreezo.[2]+3

The company describes some tea products as freshly brewed, with natural milk fat and low-calorie formulations; its Fruity Americano variants use real fruit juice and are described as zero fat. Luckin also reports developing dark-roast options across 25 beverages in the second half of 2025.[7]+2 In FY2025, freshly brewed drinks represented 94.5% of more than 4.4 billion items sold—an item-volume share, not a revenue percentage.[12] Its mobile app lets customers save drink preferences as favorites and display those settings on a subsequent order.[9] [2]+6

Geographic presence

At December 31, 2025, Luckin Coffee operated 31,048 stores: 30,888 in China, including Hong Kong; 81 in Singapore; 70 in Malaysia; and nine in the United States. The company identifies China, Singapore, and the U.S. as operating segments; Malaysia is included in the store count and overseas-franchise activities.[13][14]

For 2025, the China segment generated RMB49,003.6 million of revenue, approximately 99.4% of total net revenue of RMB49,288.1 million. The remaining RMB284.5 million, approximately 0.6%, was reported as “all other revenues”; this combines Singapore and U.S. self-operated store sales with revenue from overseas exclusive partners, and is not broken down by country.[15]+2

Luckin’s principal executive office is in Xiamen, Fujian, China. Its reported production facilities include roasting sites in Pingnan and Xiamen, Fujian; Kunshan, Jiangsu; and Qingdao, Shandong, as well as a green-coffee-bean processing facility in Baoshan, Yunnan.[18]+2 At year-end 2025, it reported 43,709 full-time and 62,738 part-time employees, with the vast majority based in China; it did not provide a country-by-country employee breakdown.[6] [13]+8

Business segments

Luckin Coffee reports one reportable operating segment, the PRC segment. Its activities include product sales through self-operated stores and revenue from partnership stores in China. The company also has operating activities in Singapore and the U.S., but these are not individually reportable segments because they do not meet the applicable quantitative thresholds.[14]

For FY2025, the PRC segment generated RMB49,003.619 million, approximately 99.4% of consolidated net revenue of RMB49,288.095 million. The remaining RMB284.476 million was reported as “all other revenues,” comprising self-operated-store sales in Singapore and the U.S. and franchise revenue from overseas exclusive partners; it was not disclosed as a separate reportable segment.[21]+2 [14]+4

Company history

Luckin Coffee was established in 2017 and began operating retail stores that October. Its founding team included Jenny Qian and Charles Lu. By the end of 2018, the company had grown to 2,073 stores in two Chinese cities.[24]+3

Luckin’s American depositary shares began trading on Nasdaq in May 2019. In 2020, the company disclosed that an internal investigation had found fabricated transactions that inflated its 2019 revenue; senior executives, including Qian, were removed. Nasdaq delisted the shares in July 2020, after which they were quoted over the counter.[28]+3

Luckin reached a restructuring agreement with noteholders in 2021, and the restructuring was substantially completed in January 2022. In 2023, the company began international expansion with stores in Singapore and launched a high-profile latte collaboration with Kweichow Moutai.[32]+3 [24]+11

Sources

• Luckin Coffee Inc. — Full financial report (2025 Y)
  24 citations

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• investor.luckincoffee.com[3]
• investor.luckincoffee.com[4]
• investor.luckincoffee.com[5]
• Luckin Coffee Inc. — Full financial report (2024 Y)[8]
• investor.luckincoffee.com[23]
• investor.luckincoffee.com[26]
• investor.luckincoffee.com[27]
• investor.luckincoffee.com[29]
• investor.luckincoffee.com[31]
• investor.luckincoffee.com[34]
• investor.luckincoffee.com[35]