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Tag: coffee

  • Starbucks opens its Coffee Sanctuary in Bali

    Starbucks opens its Coffee Sanctuary in Bali

    Starbucks has opened its largest Southeast Asian location in Bali. The 20,000sqft Starbucks Dewata Coffee Sanctuary builds on 16 years of innovation in design, customer experience and community impact for the brand in Indonesia, where there are 370 Starbucks outlets nationwide. Customers can enjoy Starbucks handcrafted core and Reserve beverages within the store’s locally-inspired design that celebrates Indonesian tradition.

    The store pays tribute to the role that Indonesia, the fourth largest Arabica coffee-growing region in the world, plays in the Starbucks business. Sumatran coffee has been a staple offering at Starbucks since 1971.
    “We began sourcing Indonesian coffees more than four decades ago and have always been struck by the sense of community and care for the coffee journey at every step,” said Starbucks Coffee Company CEO Kevin Johnson.

    View the gallery of the new outlet below (8 images) :

    “The Starbucks Dewata Coffee Sanctuary amplifies our passion for the coffee journey, our ongoing commitment to Indonesia’s rich coffee culture, and our tireless pursuit of fostering moments of connection between our partners and customers. The Coffee Sanctuary marks the 10th Starbucks Reserve Bar store in Indonesia, one of 185 stores around the world, with the majority in Asia. This is Starbucks at its best, and we are proud to open the doors of this unique experience in one of Southeast Asia’s most dynamic markets.

    Visitors enter the store through an arabica coffee farm, try their hand at coffee bean de-pulping and washing during harvest season, dry and rake green coffee beans, visit budding seedlings in the nursery, take in the store’s locally-inspired design featuring traditional Balinese craft and Indonesian art, and enjoy the more than 100 Dewata-exclusive handcrafted beverages, food and merchandise, including the Lavender Latte.

    The  Starbucks Dewata Coffee Sanctuary store’s expansive interior is inspired by traditional Balinese houses with free-flowing, connected rooms designed to promote discovery from one space to the next.

    “Bali has an envied reputation as one of Asia’s top travel destinations and Indonesia is one of coffee’s most extraordinary coffee origin regions,” said Starbucks Indonesia director Anthony Cottan said.

    “So we’re excited to invite customers here to ignite their senses and explore the seed-to-cup coffee journey at this unique Coffee Sanctuary. We’re very pleased to further strengthen the longstanding partnership between Starbucks and [licensee] PT Sari Coffee Indonesia with this truly one-of-a-kind Starbucks store, inspired by and filled with the finest examples of Indonesian art, design and craftsmanship.”

    To support the future of coffee, Starbucks Indonesia has committed to donating 100,000 coffee seedlings to farmers annually.

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  • Starbucks’ Lucky Bags entice customers in Korea

    Starbucks’ Lucky Bags entice customers in Korea

    Lee Min-joo, a 43-year-old cram school teacher, made it a point to be at the Starbucks outlet near her house last Thursday at 6 a.m. She wasn’t there for the coffee – she was waiting to buy a limited edition “Lucky Bag.” Lee said she has bought Starbucks Lucky Bags for nine years in a row. She confessed that two years ago, she was in line at 5:30 a.m.

    “I am a collector of diverse Starbucks products,” Lee said. “And I always get curious as to what’s in the bag.”

    This year, Starbucks’ Lucky Bags are bigger than ever.

    Lucky Bags were the most-searched term on the internet in Korea last Thursday and social media was abuzz with people posting pictures of the products they got in their Lucky Bags.

    Four stores near Seosomun, central Seoul, were sold out before 10 a.m.

    Lucky Bags are mystery bags sold at a given price, 63,000 won ($56) this year. The products contained in the bags are unknown to the customers who buy them. The value of the goods inside exceed the selling price.

    Starbucks introduced its Lucky Bags in 2007 and they have become the chain’s unique annual New Year’s ritual in Korea and Japan.

    One of the reasons Starbucks’ Lucky Bags sell out so quickly is their limited supply.

    The total number of Lucky Bags prepared in Korea is 17,000 and each store only get 15 or so -there are over 1,200 Starbucks in Korea.

    In 2016 the bags sold out in just five hours nationwide. In 2017, that time was shaved down to 4 hours and 40 minutes.

    Each customer is only allowed to buy one Lucky Bag.

    Lucky Bag devotees have now become a tribe with their own nickname. They call themselves “Sudeok,” which combines the first Korean syllable of the chain’s name as pronounced by Koreans, “Su,” with “deok,” a shortened version of deokhoo, Korea’s own version of otaku, Japan’s term for a person with obsessive interests.

    The Sudeoks who purchase Lucky Bags even swap items to get the items they really want.

    In 2007, the Lucky Bags were sold for 28,000 won and the price has continued to climb. The value of the things inside is said to be more than 100,000 won.

    The bags often have tumblers, water bottles and coffee mugs, as well as gift coupons. This year, 1,000 Lucky Bags contained four additional free coupons.

    “It’s a good marketing strategy that combines a limited edition appeal and the emotional appeal of winning a jackpot,” said Lee June-young, a professor who studies consumer trends at Sangmyung University.

    But not every Lucky Bag fan is satisfied with their haul.

    On social media, one disappointed fan posted a message reading, “It is not a Lucky Bag, it is an unlucky bag.” Another wrote, “The only lucky one is Starbucks.”

    “I have been buying the Lucky Bags for three years, but this year I decided not to because of the 60,000 won price tag,” said Lee Hyun-jeong, a 29-year-old office worker.

  • Vietnam’s coffee traders cut output forecast by 10 percent

    Vietnam’s coffee traders cut output forecast by 10 percent

    Traders in Vietnam lowered their coffee output forecasts by 10 percent this week as a bumper harvest came to an end. They now expect an output of about 27 million bags of 60 kg each for the 2018/19 crop year that began on Oct. 1, compared with earlier forecasts of 30 million bags. “We are not surprised to see a lower output as stubbornly low domestic prices have discouraged many farmers to fertilize and water their trees, while weather condition was also not supportive,” a trader based in the province of Dak Lak said on Thursday.

    “Farmers in the Central Highlands have harvested all of the fresh beans of the 2018/19 crop year,” he said.

    Farmers in the Central Highlands, the country’s key coffee growing area, sold coffee at 33,500-34,000 dong ($1.44-$1.47) per kg on Thursday, compared with 33,200 dong-33,700 dong a week earlier.

    “Though output is lower, domestic prices have not risen due to external factors, including larger forecasts by foreign agencies,” said another trader based in Ho chi Minh City.

    Vietnam’s coffee exports in January are forecast to be between 150,000 tonnes and 180,000 tonnes, compared with an estimated 160,000 tonnes in December.

    Traders in Vietnam offered 5 percent black and broken grade 2 robusta at a $40 per tonne discount to the March contract, compared with a $45-$50 discount last week.

    Meanwhile, in Indonesia, trading continued to be muted with traders saying premium for the grade 4 defect 80 robusta stayed unchanged for a fourth straight week at $20-$30 to the March contract.

    “Supply may only start coming around April because some areas in Bengkulu will have some harvest then,” said a trader, referring to a province neighbouring Lampung.

    Main robusta harvest in southern Sumatra typically takes place around the mid-year, but a smaller harvest usually happens a few months earlier.

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  • Tom n Toms plans Myanmar expansion

    Tom n Toms plans Myanmar expansion

    South Korean Cafe chain Tom n Toms has started to launch outlets in Myanmar. Tom n Toms Myanmar has opened two locations in Yangon so far, at the international airport and the Kantharyar Centre, with a third planned for Yankin Township. Information from Myanmar International Business Alliance Company operation director Aung Sithu Khant revealed a fourth planned outlet at the Secretariat Building in Yangon.

    “Myanmar people and coffee brands have been friendly for a long time,” said Khant.

    “We opened these outlets hoping that Myanmar people can taste a high-quality coffee with reasonable price. Next month, strawberries from south Korea will be selling in Myanmar. We will introduce a menu connecting with strawberries.”

    Khant said the third outlet will be opened soon. Future Tom n Toms cafes are expected to open in Mandalay, Taunggyi, and the capital city, Nay Pyi Taw next year.

    “The main thing is the customer is always first. Therefore, we will pay special attention to coffee and other foodstuffs”.

  • The Coca-Cola Company completes acquisition of Costa

    The Coca-Cola Company completes acquisition of Costa

    The Coca-Cola Company has announced that it has completed the acquisition of Costa Limited from Whitbread PLC. The US$ 4.9 billion transaction follows approval from regulatory authorities in the European Union and China. The acquisition was first announced on August 31, 2018. Costa, which has operations in more than 30 countries, gives Coca-Cola a significant footprint in the global coffee business. Worldwide, the coffee segment is growing 6 percent annually. Costa has a scalable platform across multiple formats and channels, from the existing Costa Express vending system to opportunities to introduce ready-to-drink products.

    “We see great opportunities for value creation through the combination of Costa’s capabilities and Coca-Cola’s marketing expertise and global reach,” said James Quincey, CEO of The Coca-Cola Company. “Our vision is to use the strong Costa platform to expand our portfolio in the growing coffee category.”

    “We wish our friends and colleagues at Costa all the very best for their future success,” said Alison Brittain, Whitbread Chief Executive. “Whitbread acquired Costa 23 years ago, when it had only 39 shops. Costa has grown to become a leading, international coffee brand, and Coca-Cola is the right partner to take Costa to the next stage of expansion.”

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  • Honolulu Cafe debuts in Philippines

    Honolulu Cafe debuts in Philippines

    Hong Kong’s Honolulu Cafe has opened its first branch in Manila. Renowned for its signature egg tarts with 192 flakey pastry layers (no, we are not sure who counted them!), the cafe also serves its own house-blend of coffee. The new store opened last week, January 5, at the SM Aura shopping centre. Honolulu Cafe dates back to 1940 when it opened as an ice cream parlour. Nearly 80 years on, the company now has stores in Singapore, Malaysia and Taiwan as well.

    Besides egg tarts and coffee, the cafes serve Hong Kong-style stocking-strained milk tea, pastries, buns, Cantonese-style roast meat, and fried noodles. The new outlet is on the ground floor of the Bonifacio Global City shopping centre.

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  • Omotesando Koffee Coffee Shop Opens in London

    Omotesando Koffee Coffee Shop Opens in London

    Popular Japanese coffee shop Omotesando Koffee has opened in the central London district of Fitzrovia on Rathbone Square. Serving coffee in a manner inspired by Japanese tea ceremony, the cafe features a cubic bar design where each customer is served by a single barista in ritualistic fashion. The approach has inspired a cult following in the brand’s home territory, and has been followed by a sister brand in Tokyo that offers gourmet bean selections in cloth bags.

    While Omotesando’s original location has closed due to poor building maintenance, it reopened in Hong Kong in 2016, followed by launches in Tokyo and Singapore. The London location aims to provide a unique coffee experience in an otherwise generally homogeneous market.

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  • Starbucks South Korea offers incentives using own cups

    Starbucks South Korea offers incentives using own cups

    Starbucks South Korea says the number of customers bringing their own cups to the store leapt 24 per cent in just one month. The boost is the result of its ‘Eco Bonus Star Program’ aimed at reducing waste and improving consumer awareness of sustainability issues. Through the Eco Bonus Star Program, customers of Starbucks South Korea can collect additional ‘stars’ – or bonus points – by bringing their own cups to cafes. The stars can be used for discounts and other benefits.

    Customers can choose to receive an immediate discount of 300 won (US27 cents) if they don’t want to collect stars.

    Starbucks said that, compared to 970,000 customers who brought their own cups in October, more than 1.21 million customers brought their own cups in December, the first full month of the program.

    Two-thirds of customers chose to save up stars, rather than receive the discount.

    “More than 1.81 million additional stars were given to customers just 50 days after the Eco Bonus Star program was implemented,” said Starbucks.

    “Gold members for My Starbucks can get a free drink for 12 stars, which also likely encouraged more customers to bring their own cups.”

    More than 8 million customers have brought their own cups this year, twice as many as last year.

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  • 2018 : Alibaba’s news about F&B, starting from Starbucks’ partnership

    2018 : Alibaba’s news about F&B, starting from Starbucks’ partnership

    Starbucks launched its first virtual store in China powered by technology from Alibaba Group, providing a unified, one-stop digital experience across the Starbucks app and mobile apps within the Alibaba ecosystem, including Taobao, Tmall, and Alipay. The first-of-its-kind virtual store leverages an online management hub developed specifically for Starbucks by Alibaba. It provides consumers integrated access to Starbucks’ digital offerings, including “Starbucks Delivers,” “Say it with Starbucks” social gifting and merchandise available from Starbucks’ Tmall flagship store.

    Alibaba’s technology streamlines the shopping process, pulling offers that were available in multiple digital apps into a single access point. Adopting a centralized approach to its mobile presence enabled by the Alibaba ecosystem, Starbucks now has a complete overview of its consumers’ actions online. Moreover, the integration of membership between Starbucks and the range of Alibaba apps is expected to fuel strong growth in Starbucks Rewards membership in China.

    The new virtual store steps up the collaboration announced by Alibaba and Starbucks in August 2018, when the companies agreed a deep, strategic “New Retail” partnership. Ele.me, China’s leading on-demand food delivery platform, owned by Alibaba, provides Starbucks delivery service for 2,000 stores across 30 Chinese cities.

    In October 2018, Starbucks also piloted its first “Star Kitchens” within two FRESHIPPO (previously known as Hema) supermarkets in Shanghai and Hangzhou. As the first retail brand to establish a dedicated back-of-house presence in FRESHIPPO locations, each Star Kitchen utilizes the distinct fulfilment and delivery capabilities on-site to complement the handcrafted beverages offered through existing Starbucks stores.

    The launch of Starbucks’ virtual store is also the latest example of how the so-called “Alibaba Operating System” empowering traditional retailers. After years of development in this digital age, Alibaba has created a unique system to support enterprises in the process of digital transformation that covers critical areas such as retail, marketing, finance and logistics.

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  • Starbucks to open two stores in Macau Airport

    Starbucks to open two stores in Macau Airport

    International cafe chain Starbucks will open two outlets at Macau Airport by Lunar New Year next February. The two stores, which will each open on either side of the customs area, add to the total of 17 Starbucks coffeehouses already in the territory – comprising seven on peninsular Macau and 10 in Taipa and Cotai. A spokesperson for Macau International Airport Company Limited said Starbucks has been committed to inspiring and igniting Macau customers’ love for coffee with the finest Starbucks experience. “We are thrilled to be launching two Starbucks stores at the Macau International Airport”.
    “We are thrilled to be launching two Starbucks stores at the Macau International Airport”.

    Starbucks has expressed interest in seeking further opportunities to expand within Macau.

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  • Vietnam’s 2018 coffee exports at 1.88 mln tonnes, surges from last year

    Vietnam’s 2018 coffee exports at 1.88 mln tonnes, surges from last year

    Vietnam’s coffee export volumes for 2018 are expected to increase 20.1 percent from last year, while rice exports are estimated to rise 4.6 percent.

    Coffee

    Coffee exports from Vietnam will climb an estimated 20.1 percent this year to 1.88 million tonnes, equal to 31.37 million 60-kg bags, the General Statistics Office said in a report on Thursday.

    Coffee export revenue for Vietnam, the world’s biggest producer of the robusta bean, will edge up 1.2 percent to $3.54 billion in the year, the report said.

    December coffee exports were estimated at 160,000 tonnes, worth $287 million.

    Rice

    Rice exports in 2018 from Vietnam were forecast to rise 4.6 percent from last year to 6.09 million tonnes. Revenue from rice exports in the period was expected to grow 16 percent to $3.05 billion.

    December rice exports from Vietnam, the world’s third-largest shipper of the grain, were estimated at 450,000 tonnes, worth $220 million.

    Energy 

    Vietnam’s 2018 crude oil exports were seen plunging 39.5 percent from last year to an estimated 4.12 million tonnes. Crude oil export revenue in the year is expected to decline 21.2 percent to $2.27 billion.

    Oil product imports in the year were estimated at 11.35 million tonnes, falling 12.1 percent from the same period last year, while the value of product imports rose 7.8 percent to $7.61 billion.

    Vietnam’s 2018 liquefied petroleum gas imports were seen increasing 4.9 percent from last year to 1.43 million tonnes.

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  • Starbucks opens immersive coffee destination in New York

    Starbucks opens immersive coffee destination in New York

    “We designed the Roastery as the pinnacle experience around all-things-coffee, and there is nothing else like it in the world. With premium coffees, teas, mixology and the iconic Milanese Princi Bakery, it serves as a Starbucks brand amplifier and a platform for future innovation,” said Kevin Johnson, CEO, Starbucks. “Beverages such as Draft Nitro, Cold Foam and the recent launch of Juniper Latte all began at the Roastery and have since been introduced to Starbucks locations around the world. It is the ultimate Starbucks Experience and an unforgettable way to connect with our customers.”

    Starbucks has a long history in New York. In 1994, Starbucks chairman emeritus, Howard Schultz, who was born and raised in Canarsie, Brooklyn, opened the first Starbucks store in the city on Broadway and 87th Street on the Upper West Side. Nearly 25 years later, there are 350 Starbucks stores across the five boroughs in the city where Starbucks employs approximately 5,000 partners (employees). The Roastery employs nearly 300 people, including roasters, baristas, commessas and mixologists.

    “Like most people I first experienced Starbucks as a customer, where I would go to my store at 195 Broadway in the Financial District in New York City and order a tall latte which was the perfect way to start my day,” said Raul Adorno, Managing Director Reserve Roastery New York. “I look forward to welcoming my fellow New Yorkers and visitors from all around the world when we open the Roastery on Friday. You will be amazed.”

    At its core, Starbucks Reserve Roastery New York is a working coffee roastery, where every day Starbucks Master Roasters, who have trained for years in the craft of coffee roasting, will be small-batch roasting Starbucks rarest single-origin coffees and blends called Starbucks Reserve. Those coffees then get served fresh at the Roastery or shipped to select Starbucks stores around the world. That functional purpose, as well as the history of industry and manufacturing in the meatpacking district, is reflected in the design of the space.

    “New York is a hub to the world,” said Liz Muller, Chief Design Officer of Starbucks. “It’s an unbelievable place with such history. The meatpacking district has a fantastic history of industry, and the neighborhood has an electric energy; it is alive. We’ve designed a space where the excitement and dynamic activity of the neighborhood is mirrored in the Roastery. We want our customers to come in and feel very inspired.”

    Unique Food and Beverages

    Coffee Bars – There are two coffee bars at the Roastery, which in total offer seven brewing methods, including pour over, Chemex, coffee press, siphon, espresso, Clover and cold brewing.

    Upon entering the Roastery, visitors can visit the coffee bar on the main level, where baristas, called coffee masters, are crafting classic espresso beverages such as cappuccino, latte, cortado and specialty drinks such as whiskey barrel-aged cold brew, sparkling citrus espresso, nitro hopped apricot cold brew and rotating specials like the cardamom latte.

    Arriviamo Bar – For the first time in the U.S., Starbucks will debut the Arriviamo Bar inspired by the Italian tradition of aperitivo. This craft cocktail bar is located inside the Roastery where expert mixologists will serve cocktails and spiritfrees curated by award-winning mixologist Julia Momose featuring coffee and tea. Specialty cocktails include the Nocino Notte, made with cold brew coffee, barrel-aged gin and black truffle salt, and the Triomphe, made with Teavana/MC Darjeeling de Triomphe Tea, gin, dry Riesling, aquavit, passionfruit sparkling water and orange saffron bitters. The Arriviamo Bar will also serve a selection of beer, wine and classic cocktails

    Princi – Inside the Roastery is the Milanese boutique bakery Princi from founder Rocco Princi, with on-site baking of fresh breads, Pizzas, cornetti, focaccias, desserts and more.

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  • Vive cake boutique launches hot beverages this winter

    Vive cake boutique launches hot beverages this winter

    Embracing the joyous holiday season, celebrity-loved Vive Cake Boutique launches a selection of luscious winter drinks specially curated by Founder, Ms Vivien Lau, to pair with VIVE’s delectable sweet treats. A selection of premium organic teas sourced from Taiwan are also introduced to add to its repertoire of beverages.

    “The holiday season is one that inspires the sharing of love and joy between family and friends,” says Vivien Lau. “Our new hot drinks are ‘warm, comforting and the perfect thing to cozy up with as the weather gets colder. Pair them with our signature cakes; it is soul-warming.”

    The new non-alcoholic So Grape-ful (HK$68), is a sophisticated yet whimsical libation designed to emulate mulled wine. Made with grape juice, tangy orange and lemon zest, a dash of cinnamon, cloves, and star anise, this warm drink not only brings to mind a winter wonderland classic, but also inspires a sense of playfulness with its presentation in a classic Christmas bauble sitting in a Martini glass.

    Lovers of sweetness and tradition will enjoy the classic S’mores (HK$50) concoction. A classic hot chocolate topped with roasted marshmallows, featuring butter cake crumbs, the smooth and satisfying drink conjures the classic Christmas moment shared by family and friends in front of a fireplace.

    The chilly winter season need not only be a time exclusively for indulgences. VIVE introduces a repertoire of three organic premium teas personally sourced by Vivien Lau from Taiwan, unrivalled for its high quality teas.

    Each of these teas is recommended to be paired with VIVE’s repertoire of signature desserts. The long-lasting, mellow sweetness of the Golden Honey Black Tea (HK$42) which invokes a scent of honey, floral, fruity, and milky aroma is recommended to be paired with Berry Jolly (HK$58), a layered sponge cake with mascarpone mousse and strawberry fillings. The slight astringency of black tea will make that mascarpone mousse really sing.

    The sweet, floral, and honey-fragrant Oriental Beauty Tea (HK$42) with its unique flower and honey aroma is best paired with the Berry Almond Tart (HK$48), made with seasonal fruits set atop an almond cake base and a crisp, sweet tart shell.  The tea is light enough to not overpower the fruits, but flavorful enough to make this simple sweet treat shine.

    Tea lovers who fancy the classic clean and grassy aroma with a tinge of roast, will love the mellow and brisk taste of Alpine Roast Oolong Tea (HK$42), which leaves tea drinkers with a lingering sugar cane sweetness. This tea is best paired with Treasure Hunt (HK$58), a rich caramel glazed cake, layered with dark chocolate sponge, caramel & chocolate mousse, set on a crunchy base.  The fragrant florals of lightly oxidized oolongs will bring out the fruity and earthy flavors of dark chocolate.

    Tea-ophiles may also take these naturally grown, chemical-free teas home with them. Tea connoisseurs may enjoy Golden Honey Black Tea for a natural caffeine boost, Alpine Roast Oolong Tea, and Oriental Beauty Tea at the comforts of their own homes. The packaged tea box with priced HK$218, including 15 individual tea bags (each flavour of 5), is a perfect personal or corporate gift.

    Vive Cake Boutique has proved a roaring success story since being launched with online orders in 2014 by founder and creative director Vivien Lau, who discovered her passion and talent by chance, making her first cake for a friend’s birthday. Her signature ‘handmade with love’ cakes, cupcakes, macarons, cookies, confectioneries and tailor-made cakes for weddings and special occasions, are all made from scratch from finest ingredients sourced from all over the world.

    VIVE’s widespread acclaim includes Time Out’s listing among the “crème de la crème of Hong Kong’s bespoke dessert makers” – with a massive celebrity and socialite following including Aaron Kwok, Charlene Choi, Gillian Chung, Niki Chow, Sharon Chan, Miki Yeung, Ella Koon, Myolie Wu and more.

  • Cafe Leitz opens in Raffles Hotel Singapore

    Cafe Leitz opens in Raffles Hotel Singapore

    German photography brand Leica has reopened at Raffles Hotel with a line of wristwatches and a cafe. The opening debuts Leica’s Cafe Leitz in Singapore, based on its German flagship and serving a variety of coffees and petit fours. The store, launched on the site of the brand’s original Singapore location, features a new experiential retail concept that showcases Leica’s iconic cameras while drawing visitors towards its first line of digital watches in Southeast Asia.

    Leica enters the watchmaking industry alongside a pewter and silver collaboration jewellery line with Royal Selangor exclusive to Leica Store Raffles, featuring subtle references to the Leica camera. The store hosts a gallery space for classic Leica photography.

  • Luckin Coffee worth $2.2 billion in quite short time

    Luckin Coffee worth $2.2 billion in quite short time

    Fast-growing Chinese cafe chain Luckin Coffee has raised US$200 million in its latest funding round, effectively valuing the company at a stunning $2.2 billion. That’s up to $700 million more than its value was estimated just one month ago when the quest for funding was announced.

    Launched only in January, the company had already opened more than 1700 outlets in 21 Mainland China cities by last month. Its rapid growth is based on an inexpensive delivery service concept and online ordering system.

    An aggressive competitive strategy involves an IT-focused approach whereby all customers must purchase coffee via an app, with which they can then monitor brewing progress via livestream. Its pricing is considerably less than Starbucks.

    Luckin said the latest funding round was led by Singapore Government sovereign wealth fund GIC and China International Capital Corp. They were likely attracted by a mid-term plan for an IPO of the Luckin business in either Hong Kong or New York. GIC was a participant in a similar capital raising in July.

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