Luckin Coffee: 4Q23 New Store Openings Updates

Officially Over 15K Stores

Happy New Year!

Based on the weekly updates from its official wechat channel, Luckin Coffee (LKNCY) opened approximately 2,433 new stores in total during 4Q 2023, including 2,421 in China and 12 in Singapore.

Luckin Coffee Quarterly New Store Openings

Source: Company official wechat channel.

The total store count reached approximately 15,706 (including Singapore) at the year-end 2023, above the management target of 15,000 stores.

Luckin Coffee Quarter End Total Store Count

Source: Company filings and official wechat channel.

The pace of new store opening during the fourth quarter 2023 remained at the historic high of 26 stores per day, the same as that in 3Q 2023.

Average New Store Openings per Day 4Q 2023

Source: Company filing and official wechat channel..