Luckin Coffee, Americana Group to establish JV for retail coffee business
Luckin Coffee and Kuwait Food Company Americana announced that they have signed a Memorandum of Understanding under which the two companies plan to establish a joint venture to launch a new retail coffee business in the Greater Middle East and India. Luckin Coffee's technology-driven new retail model provides coffee and other products of high quality, high affordability, and high convenience to its customers. Americana Group has experience as the largest integrated food product company in the Middle East, having served as a pioneer of restaurant operations since the 1960's. "This collaboration represents Luckin Coffee's first step toward bringing its leading products from China to the world. We look forward to further expanding the freshly brewed coffee market internationally as we realize the incredible growth opportunities available to us through our innovative business model," said Luckin Coffee's CEO Jenny Qian Zhiya.