Luckin Coffee completed round A financing of 200-300 million US dollars, with a valuation of more than 1 billion US dollars.

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Luckin Coffee is expanding much faster than coffee chain giant Starbucks and "Internet celebrity" happy tea.

From the founding of the brand to becoming the new unicorn, Luckin Coffee under the new retail model ran quite fast.

36 Krypton learned exclusively from people familiar with the matter that Luckin Coffee has now completed a round of financing with a scale of 200-300 million US dollars. After the financing was completed, Luckin Coffee was valued at more than $1 billion.

On May 8 this year, Luckin Coffee announced a set of data at the launch of the brand (previously for trial operation): Luckin Coffee has opened 525 stores in 13 cities, including Beijing, Shanghai and Shenzhen. It has only been four months since it launched its trial operation on January 1.

Qian Zhiya, founder and CEO of Luckin Coffee, revealed in an exclusive interview with Xinhuanet last month that he planned to start financing in June.

She also said that Luckin Coffee has invested more than 1 billion yuan in the early stage and is still in a state of loss. The company does not have a clear profit schedule and is ready to lose money for a long time, because "it takes time to cultivate the market."

According to Starbucks' official disclosure, a Starbucks store opens in China every 15 hours or so. By May 2018, Starbucks had opened more than 3000 stores in China, an average of about 160 a year. According to a number of media reports, Xiao Shuqin, chief brand officer of Xi Tea, revealed in April that Xi Tea has 88 stores in 13 cities across the country, and plans to open another 90 stores this year.

Compared with the entire beverage industry, Luckin Coffee is expanding much faster than coffee chain giant Starbucks and "Internet celebrity" Xi Tea.

Why do you open so many stores? Qian Zhiya explained in the exclusive interview with Xinhuanet: "We need to reach a certain store density as soon as possible, which will not only improve the convenience of customers, but also help us to improve marketing efficiency and operational efficiency." easy to verify our new retail business model. "

Qian Zhiya's position for Luckin Coffee is to "make good coffee that everyone can afford and drink." In the future, the consumption environment of different scenes will be created in the stores, which will make Ruixing different from other coffee shops.

Under the new retail trend, Internet coffee brands such as Coffee, Lai Cup Coffee, small Coffee, Star Cafe Technology, Friendship drink and so on all have access to early financing with varying amounts of capital. 36 Krypton has reported that online coffee brand Lian Coffee completed 158 million yuan in B+ round financing in March this year, led by Qiming Venture Capital and followed by Banyan Capital. Prior to this, even Coffee has completed four rounds of financing.