Luckin Coffee sells freshly brewed coffee and tea drinks through a dense network of small-format stores across China, with additional locations in Singapore, the U.S., and Malaysia. As of year-end 2025, Luckin operated over 31,000 stores globally and had 451 million cumulative transacting customers, making it the largest coffee chain in China by store count. Luckin's model centers on small pick-up stores (typically 20–60 square meters) paired with a mobile app for ahead-of-time ordering, allowing it to operate with low rent, lean staffing, and high throughput. Customers order and pay through the app, eliminating queuing. About 78% of stores are self-operated, with the remaining 22% run by third-party partners under the Luckin brand — a capital-light format Luckin uses to penetrate lower-tier cities. Partnership stores generate revenue through materials sales and profit-sharing. Luckin's key revenue driver is cup volume, with freshly brewed drinks accounting for roughly 70–72% of net revenues. Luckin prices competitively to drive volume and market share. Its product lineup includes signature items like the Coconut Milk Latte and a growing non-coffee portfolio including milk tea and fruit drinks. Luckin is investing in vertical integration, building out proprietary roasting facilities targeting 155,000 tons of annual capacity. Internationally, Luckin operates self-operated stores in Singapore, a master franchise model in Malaysia, and early-stage stores in the U.S. Luckin's ADSs trade OTC under LKNCY following a 2020 accounting fraud disclosure and subsequent restructuring.