Luckin Coffee has opened 2,370 stores in 28 cities in China since its inception in 2017. Photo: Simon Song

China’s Starbucks challenger Luckin Coffee files for US IPO, set to raise US$300 million

  • Xiamen-based Luckin, which raised US$150 million from investors including BlackRock last week, has a valuation of US$2.9 billion
  • Start-up had a 2.1 per cent market share in China last year, while Starbucks accounted for more than 50 per cent of the market
Topic |   Start-ups

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Luckin Coffee has opened 2,370 stores in 28 cities in China since its inception in 2017. Photo: Simon Song
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