Investor Alert

Market Pulse Archives

Sept. 3, 2019, 8:16 a.m. EDT

Luckin Coffee to launch Luckin Tea as independent brand

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane


Luckin Coffee Inc. said Tuesday it is planning to launch Luckin Tea as an independent brand, along with a pilot program that would expand its retail partnership model to recruit partners across the globe. The Chinese coffee-shop chain and competitor for Starbucks Inc., which went public in May, said Luckin Tea has enjoyed strong demand since it was launched in April. "To further capitalize on the opportunity in the freshly-brewed tea market, we are strategically launching Luckin Tea as an independent and complementary brand and rolling out the store footprint nationwide," Luckin Chief Operating Officer Jian Liu said in a statement. "We will continue to maintain the high growth of the coffee business, while taking the tea drinks as another important driver to further explore the breadth and depth of the market." Shares fell 1.2% premarket but have gained 2.2% in the last three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.49% has gained 6.6%.

+61.35 +1.49%
Volume: 1.91B
May 14, 2021 5:02p

Get news alerts on S&P 500 Index — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.