Caixin Global – Latest China News & Headlines

Home >


CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Tencent Posts 35% Profit Rise on Reviving Game Releases
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Oppo to Unveil New Smartphone With 20x Zoom
Chinese Companies Usher in Age of Synthetic Meat
Record-Smashing Chinese Animation to Get Overseas Releases
WTO to Arbitrate China’s Complaints About U.S. Solar-Cell Tariffs
Vipshop Stock Soars After Q2 Results Beat Expectations
Japan Replaces China as Largest Holder of U.S. Government Debt
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Alibaba Q2 Revenue Jumps 42%, Beating Estimates But Slower Than Year Earlier
Baidu’s $66 Billion Dive Knocks It Out of China’s Internet Top 5
Beijing Grants Foreign Investors Wider Access to Entertainment Industry
Tencent-Backed Maoyan Turns Profit on Strong Ad Growth
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese Internet Sector Grows 17.9% Year-on-Year: MIIT
Xiaomi Receives Licenses for Second 5G Phone
Coal Industry Looks to Robots for Increased Safety
No Investor Love for Tencent, Lenovo and Luckin in Latest Reports
China’s Starbucks Challenger Eyes Middle Eastern Foray

By Shen Xinyue and Tang Ziyi / Jul 22, 2019 06:59 PM / Business & Tech

Photo: VCG

Photo: VCG

Upstart Chinese coffee brand Luckin said Monday that it plans to launch a joint venture with Kuwait-based food company Americana Group.

The move aims to expand Luckin’s retail business to the Greater Middle East and India, according to the company’s statement. Luckin did not offer further details about the venture.

Touted as a domestic challenger to market leader Starbucks, Beijing-based Luckin has been rapidly expanding its model of minimalist stores and heavily discounted beverages. Since its establishment in 2017, it has opened over 3,000 cafes in China and plans to roll out another 1,500 by the end of this year, the company said in the statement.

That number would top Starbucks, which has said it aims to have 4,200 locations in China by then.

Americana Group mainly engages in food manufacturing and distribution, according to its website. It currently operates 1,900 restaurants in 13 countries across the Middle East and North Africa.

Contact reporter Tang Ziyi (

Related: Three Things to Know About China’s Starbucks Challenger

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.