Recently, Luckin Coffee launched its Q1 2023 monetary report. The report exhibits that Luckin Coffee achieved a complete internet income of RMB 4.437 billion (USD 640 million) within the first quarter of this yr, a rise of 84.5% year-on-year.
The internet revenue of Luckin Coffee underneath US GAAP was RMB 565 million (USD 82 million), a rise of greater than 27 instances year-on-year.
In addition, 1,137 new shops have been added, bringing the full variety of shops shut to 10 thousand. As of March thirty first, Luckin Coffee has 9,351 shops nationwide, together with 6,310 self-operated shops and three,041 three way partnership shops.
According to the present retailer opening velocity (1,137 new shops added within the first quarter, with a mean of 1 new retailer opened each 1.9 hours), Luckin Coffee is anticipated to realize a complete variety of shops exceeding 10,000 by the top of the second quarter, additional consolidating its main place when it comes to retailer scale.
At the consumer stage, Luckin Coffee had a mean of roughly 29.49 million transaction prospects monthly within the first quarter, a year-on-year improve of 84.6%.
SEE ALSO: Luckin Coffee Opens Two Stores in Singapore
As of March thirty first, Luckin Coffee’s cumulative shopper base reached 150 million and its variety of shopper prospects exceeded 30 million in March, reaching a historic excessive.
Since 2023, the recognition of Luckin Coffee’s coconut latte has not diminished. On the event of its two-year anniversary in April this yr, gross sales exceeded 300 million cups.
The restricted version spring drink “Biluochun Latte” launched on March sixth achieved a gross sales quantity of 4.47 million cups in its first week. From April 10-16, the brand new product “Iced Coconut Latte” broke by 6.66 million cups in its first week.
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