The_King Posted March 17, 2023 Share Posted March 17, 2023 Luckin Coffee is set to open its first stores in Singapore – in the Ngee Ann City shopping centre and Marina Square – this month and is eyeing 10 stores by the end of April. According to local media reports, the first two stores are already in fit-out behind hoardings saying they will open at the end of March. The brand is also preparing for the third store in Tanjong Pagar’s Guoco Tower, which is set to open next month. Luckin Coffee will compete directly with chains already established locally, including Starbucks, Flash Coffee and Kopi Kenangan. Statista projects Singapore’s ready-to-drink coffee and tea market will achieve sales of US$1.1 billion this year. Luckin’s Southeast Asian debut – which comes two years after the US$340 million accounting scandal – was plotted earlier this year when the company started the hiring process in the country across several recruitment platforms, including JobSteet and MyCareersFuture. The launch marks Luckin Coffee’s second attempt at international expansion after India and the Middle East/North Africa. Meanwhile, the brand is reported to be in talks with franchise partners in Thailand to expand into that market. The controversial Chinese coffee chain almost collapsed in 2020 and was delisted from Nasdaq after it was discovered about $337.31 million in sales in 2019 were fabricated. Since then, the company has changed a raft of senior management and restructured its financial affairs in the US. Luckin Coffee reported a 66.9 per cent year-on-year growth in revenue in FY 2022, generating about $1.9 billion. “We had more than 2100 net new store openings last year, bringing our total stores in China to more than 8200 and demonstrating our ability to effectively navigate a dynamic and evolving business landscape and maintaining our leading position in the Chinese coffee market,” said Jinyi Guo, chairman and CEO of Luckin Coffee. 1 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted March 17, 2023 Share Posted March 17, 2023 3 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
The_King Posted March 17, 2023 Author Share Posted March 17, 2023 4 minutes ago, Huat Zai said: if same price as SB, then gg 4 Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 On 3/18/2023 at 2:02 AM, The_King said: if same price as SB, then gg Not sure about their pricing here, but in China they were pricing their stuff at about 2/3rd of Starbucks equivalent of the same drink. Link to comment Share on other sites More sharing options...
The_King Posted March 19, 2023 Author Share Posted March 19, 2023 8 minutes ago, coffeenut said: Not sure about their pricing here, but in China they were pricing their stuff at about 2/3rd of Starbucks equivalent of the same drink. No way if Sb is $8, only when it $3 then i buy 1 Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 (edited) 9 minutes ago, The_King said: No way if Sb is $8, only when it $3 then i buy Haha, no way la. Their USP is they deliver coffee to your place or wherever you want to order - and order via app. And got some weird flavours. They might even do food delivery. Or maybe they will just launch. flagship type stores in Singapore which will be all walk-in cafe like Starbucks, but I doubt they want to follow that model Quite sure they'll launch weird iced coffees with flavours of persimmon, cheese, orange, bak kwa, durian, etc Edited March 19, 2023 by coffeenut 1 Link to comment Share on other sites More sharing options...
The_King Posted March 19, 2023 Author Share Posted March 19, 2023 10 minutes ago, coffeenut said: Haha, no way la. Their USP is they deliver coffee to your place or wherever you want to order - and order via app. And got some weird flavours. They might even do food delivery. Or maybe they will just launch. flagship type stores in Singapore which will be all walk-in cafe like Starbucks, but I doubt they want to follow that model Quite sure they'll launch weird iced coffees with flavours of persimmon, cheese, orange, bak kwa, durian, etc then my money and luckin will be just 1 Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 2 minutes ago, The_King said: then my money and luckin will be just Wahaha .. you wait see what they doing liao. Though their order via app has a lot of offers and discounts. Like you order food and coffee together, there were substantial discounts and stuff. But think you need to be a specific type of demographic to order that style of stuff I tried their drinks in Shanghai 3/4 times then realised not for me Standard espressos or a regular pourover coffee at smaller places good enough Link to comment Share on other sites More sharing options...
papercuts Posted March 19, 2023 Share Posted March 19, 2023 will buy if below $4 1 Link to comment Share on other sites More sharing options...
The_King Posted March 19, 2023 Author Share Posted March 19, 2023 15 minutes ago, coffeenut said: Wahaha .. you wait see what they doing liao. Though their order via app has a lot of offers and discounts. Like you order food and coffee together, there were substantial discounts and stuff. But think you need to be a specific type of demographic to order that style of stuff I tried their drinks in Shanghai 3/4 times then realised not for me Standard espressos or a regular pourover coffee at smaller places good enough i hv nv step foot on SB, coffee bean, coffee and tea etc... to buy anything for the last 10yr. so i dont think luckin will be anything special for me to target me need to focus on $$$$$$$$$$$$$$$$$ 1 Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 Last time Luckin got sack some top management staff who were around during the inflated sales saga .. Now those guys have started another coffee chain in China called Cotti Coffee - not sure if they will land up in SG to chop sinkie carrot Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 3 minutes ago, The_King said: i hv nv step foot on SB, coffee bean, coffee and tea etc... to buy anything for the last 10yr. so i dont think luckin will be anything special for me to target me need to focus on $$$$$$$$$$$$$$$$$ Usually, moi will go 1-2 time to big chain stores to ssrr. Nowadays drink less coffee, so might as well buy better coffee and make at home Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 14 minutes ago, papercuts said: will buy if below $4 Initial offers will have a few drinks in that range, can order. But srsly, their range is in the 25-32RMB in China .. don't think long term can stay in your below $4 range Link to comment Share on other sites More sharing options...
The_King Posted March 19, 2023 Author Share Posted March 19, 2023 14 minutes ago, coffeenut said: Usually, moi will go 1-2 time to big chain stores to ssrr. Nowadays drink less coffee, so might as well buy better coffee and make at home me outside drink my own water, at home then drink kopi, sugar free ice lemon tea etc..... 1 Link to comment Share on other sites More sharing options...
coffeenut Posted March 19, 2023 Share Posted March 19, 2023 8 minutes ago, The_King said: me outside drink my own water, at home then drink kopi, sugar free ice lemon tea etc..... Good mah .. jin healthy 1 Link to comment Share on other sites More sharing options...
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