Luckin Coffee Opens Its 30th Store in Singapore
On December 25th, Luckin Coffee announced on social media that its 30th store in Singapore has opened. The new store operates from 7:30 am to 10:00 pm.
Luckin Coffee entered Singapore in the first quarter of this year. Its Chairman and CEO, Guo Jin Yi, once stated that Singapore is the starting point for the company’s internationalization strategy, hoping that Luckin Coffee’s stores in Singapore can successfully implement its business model overseas.
According to the information, Luckin Coffee is priced between 28 yuan and 32 yuan in China (approximatly ＄4-4.5). After various platform-wide discount activities, the average customer price ranges from 15 yuan to 20 yuan (approximatly ＄2.1-3). However, in Singapore, this number reaches 7-8 SGD (＄5.3-6). After new entrants provide coupons, this number is approximately 5.6-6.4 SGD (＄4-5).
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