China's largest coffee chain, Luckin Coffee, has debuted its first two stores in Malaysia with intentions to launch 200 outlets within the next two years.
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A newly opened Luckin Coffee store in Malaysia. Photo courtesy of Luckin Coffee. |
It established its first Southeast Asian presence in Singapore in April 2023 and has subsequently increased the number of its locations there to 38.
Jeff Lim, chief executive for Luckin Coffee in Malaysia, stated that the local coffee market is valued at $1 billion and predicts an annual growth of 5% by the year 2029.
This opens up fresh possibilities for us to conceptualize Coffee as a lifestyle, not simply as a drink.
In Malaysia, the Chinese brand can likely expect intense competition from local competitor ZUS Coffee, the largest chain with approximately 700 outlets, followed by Starbucks with nearly 400 stores.
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