In the last 12 months, Luckin Coffee generated $193.1 million in revenue and had a net loss of $536.7 million. Luckin Coffee has a market cap of $530 million.
Credit Suisse, Morgan Stanley, CICC and Haitong Internationa acted as the underwriters for the IPO and KeyBanc Capital Markets and Needham & Company were co-managers.
Luckin Coffee provided the following description of their company for its IPO: “We are China’s second largest and fastest-growing coffee network, in terms of number of stores and cups of coffee sold, according to the Frost & Sullivan Report. We have pioneered a technology-driven new retail model to provide coffee and other products with high quality, high affordability and high convenience to our customers. We believe that our disruptive model has fulfilled the large unmet demand for coffee and driven its mass market consumption in China, while allowing us to achieve significant scale and growth since our inception. Driven by technology, our new retail model is built upon our mobile apps and store network. • Mobile apps: Our mobile apps cover the entire customer purchase process, offering our customers a 100% cashier-less environment. This enhances our customer experience, improves our operating efficiency, and allows us to stay connected with our customers and engage them anytime, anywhere. • Store network: While operating three types of stores, we strategically focus on pick-up stores, which accounted for 91.3% of our total stores as of March 31, 2019. Our pick-up stores have limited seating and are typically located in areas with high demand for coffee, such as office buildings, commercial areas and university campuses. This enables us to stay close to our target customers and expand rapidly with low rental and decoration costs. “.
Luckin Coffee was founded in 2017 and has 16649 employees. The company is located at 17F Block A, Tefang Portman Tower, No. 81 Zhanhong Road, Siming District, Xiamen, Fujian, People’s Republic of China and can be reached via phone at +86-592-3386666 or on the web at https://www.luckincoffee.com.
Receive News & Ratings for Luckin Coffee Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luckin Coffee and related companies with MarketBeat.com's FREE daily email newsletter.