Luckin Coffee China Ipo. The company sees plenty of room for growth. The pending nasdaq debut of china’s luckin coffee inc.
The company is also upsizing its ipo to 33 million shares. The ipo gives luckin more firepower and exposure to fuel its ambitious plan of overtaking starbucks in china this year as the largest coffee chain by number of outlets. A deliveryman walks past a closed luckin coffee store at sanlitun, as the country is hit by an outbreak of the new.
In this short period of time, luckin exhibited unprecedented growth as they expanded from a concept in a single store in beijing to 2,370 stores in 28 cities as of march 31, 2019.
The ipo gives luckin more firepower and exposure to fuel its ambitious plan of overtaking starbucks in china this year as the largest coffee chain by number of outlets. Luckin coffee can be profitable once it curtails its huge sales and marketing spend. Luckin coffee, which operates a chain of coffee locations across china, has filed to go public in the u.s. The terms of the deal.