Insight Report 5 minutes PremiumLuckin Coffee Leverages Pick-Up Store Format and Delivery Services, IPO Set to Fund Further Expansion Coresight Research May 22, 2019 Executive SummaryLuckin Coffee, China’s answer to Starbucks, raised some $571.2 million through an initial public offering (IPO) of American Depository Receipts for 33 million of its shares on the Nasdaq, pricing its shares at the top end of the pre-listing debut range of $17. The amount raised could hit $650.8 million if the underwriters exercise their option to purchase additional shares. Luckin Coffee provides fast delivery services to attract customers looking for convenience. The company uses a pick-up store format (that also offers delivery) that typically has low rent and fit-out costs to allow the company to expand rapidly at lower cost. Luckin Coffee will use the funds raised through the IPO to open more stores and fund promotions for the coming three to five years. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Weekly US and UK Store Openings and Closures Tracker 2023, Week 17: Bed Bath & Beyond Drives US ClosuresUS, UK, EU & China Quarterly Economic Update, 1Q23: Stronger Economic Indicators Lead to Higher Consumer Spending in the US and UKMacy’s Announces 150 Store Closures—A Turnaround Effort To Drive PerformanceWeb3 and the Supply Chain: Blockchain, Digital Twins and More—Insights Presented at Shoptalk 2023