Luckin Coffee weighs Gulf expansion after $1B Mubadala-backed deal

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Summary · why it matters

Luckin Coffee is weighing an expansion into Persian Gulf markets after securing backing from Abu Dhabi sovereign wealth fund Mubadala. Chairman David Li told CNBC on Monday that senior management is considering entering Gulf countries, saying there are other markets the company is currently looking at. Mubadala became a direct investor in Luckin through a $1B joint investment with Centurium Capital in early September, with neither side disclosing the respective stake size. The $385B sovereign fund has invested more than $20B in China, including into e-commerce giant Shein and real estate developer Dalian Wanda's shopping malls business. Luckin CEO Jinyi Guo told CNBC separately on Monday that the appeal of the Gulf lies in stable, high-frequency coffee demand and a growing preference for low-sugar, health-oriented drinks. With Centurium's backing, Luckin has overtaken Starbucks as China's biggest coffee chain by sales.

Impact on assets 3

Consumer Discretionary▲ · 2 stocks
Luckin Coffee Inc.
0A6U
▲ PositiveCapitalDemandrelevance

Mubadala-backed $1B joint investment with Centurium gives Luckin funding and sovereign backing for Gulf expansion.

Others▲ · 1 stocks

Off-coverage companies 3

Centurium CapitalPrivate± Mixed
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Dalian Wanda Group Co., Ltd.Private± Mixed
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Mubadala Investment CompanyPrivate± Mixed
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