Luckin Coffee is looking to the Gulf for its next growth engine. The Chinese coffee chain is considering expansion into Gulf countries, bringing a company that has already overwhelmed Starbucks in China into a very different competitive arena.
Luckin has just opened its 100th Singapore store and secured a $1 billion investment involving Abu Dhabi sovereign wealth fund Mubadala. After rebuilding itself from an accounting scandal that once seemed capable of killing the company, Luckin is now trying to establish whether a model perfected in China can become a global coffee business and challenge its much bigger competitor Starbucks outside the home territory.
