Luckin Coffee reports US$2.14B revenue with 50% growth, over 3,000 new stores in Q3 2025

GLOBAL – Chinese coffee powerhouse Luckin Coffee has achieved impressive growth in the third quarter of 2025, reporting a total net revenue of US$2.14 billion, marking a robust 50.2% increase compared to the same period last year.

This surge was primarily fueled by a 48.1% rise in gross merchandise value (GMV), reaching US$2.43 billion, driven by an uptick in product sales tied to the company’s expanding store network and an increase in monthly transacting customers.

Despite this revenue growth, operating expenses climbed sharply by 57%, reflecting the costs associated with Luckin’s aggressive expansion strategy.

Operating expenses now account for 88.4% of net revenues, up from 84.5% in Q3 2024.

The most significant driver was a staggering 211.4% increase in delivery expenses due to soaring volumes, particularly on third-party delivery platforms.

This rise was partially offset by reduced material costs and store-related expenses, thanks to stronger supply chain management and operational efficiencies.

During the quarter, Luckin Coffee opened a net total of 3,008 new stores, significantly broadening its reach.

This includes 2,979 locations in China, encompassing Hong Kong, while also entering new markets with 5 stores in Singapore, 21 in Malaysia, and 3 in the United States.

By the quarter’s end, the total store count stood at 29,214, representing an 11.5% increase from the prior quarter.

The company also experienced record customer engagement, with average monthly transacting customers reaching 112.3 million, up 40.6% year over year.

CEO Dr. Jinyi Guo emphasized the strong momentum, highlighting solid same-store sales growth, advancements in fulfillment capabilities, and record-high customer interactions.

Luckin Coffee continues to innovate with product offerings, expand its store footprint, and focus on providing affordable and convenient coffee experiences, positioning itself for sustainable long-term market leadership.

This financial performance underscores Luckin Coffee’s rapidly growing influence across Asia and beyond, as it successfully balances rapid expansion with operational refinement.

Founded in 2017 by Jenny Zhiya Qian in Beijing, Luckin Coffee quickly rose as a leading Chinese coffee chain known for its tech-driven convenience.

Famous for its affordable, high-quality offerings, Luckin’s popular menu includes handcrafted espresso drinks, caramel macchiatos, and signature iced lattes, appealing to young urban consumers.

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