Luckin Coffee: 1Q 2024 New Store Openings Updates

Based on the weekly updates of its official wechat channel, Luckin Coffee (LKNCY) opened approximately 2,263 new stores in total during 1Q 2024, including 2,260 in China and 3 in Singapore.

Luckin Coffee Quarterly New Store Openings

Source: Company official wechat channel.

The total store count reached approximately 18,511, including 33 stores in Singapore as of April 7th, 2024.

Luckin Coffee Quarter End Total Store Count

Source: Company filings and official wechat channel.

The pace of new store opening in China during 1Q 2024 was on average 25 stores per day, sequentially lower than that in 4Q 2023. The slowdown was most likely temporary and caused by the Chinese New Year holidays during the first half of February.

Average New Store Openings per Day 4Q 2023

Source: Company filing and official wechat channel.