Luckin Coffee plans to bring its beverage brand to the Malaysian market with a local partner as the Chinese coffee chain expands beyond Singapore,Watch Scandal Sin in the City (2001) its first foreign location. Malaysia’s media outlet The Edge cited sources familiar with the matter in a report on Thursday. The partnership is accompanied by an “ambitious store expansion plan” for the next five years. US-listed Luckin Coffee is involved in a price war on its home turf, despite recording its first quarterly loss in two years in the March quarter and a negative operating margin of 1%. As of March 31 this year, Luckin Coffee, founded in 2017, has 18,590 stores globally, of which 32 are in Singapore and the rest in China. [The Edge]
