Luckin continues to expand at jaw-dropping speed as it announced plans to open shop overseas for the first time.
The Starbucks challenger from China said it has signed a memorandum of understanding to set up a joint venture with Americana Group, a major international food group.
The deal will see Luckin launch a new retail coffee business in the Greater Middle East region and India, said the company that in May took public its 18-month-old business.
Its partner has a far longer track record. Founded in Kuwait more than 50 years ago, Americana owns the local franchises of KFC, Pizza Hut, Friday’s, Costa Coffee and other prominent casual dining brands across the Middle East and North Africa.
Luckin did not provide further details of this new venture and a spokesperson for the company declined to comment when contacted by TechCrunch.
But there’s still a lot to read into its international foray.
For one, Chinese companies have had a growing presence in the Middle East and India in recent times as Beijing puts forward its Belt and Road infrastructure development and investment initiative.