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Companies

China's Luckin Coffee forms JV with Middle Eastern partner

Starbucks challenger also wants to open stores in India

A barista delivers a coffee to a customer at a Luckin Coffee store in Beijing, China.   © Reuters

HONG KONG -- Chinese coffee chain Luckin, which raised $510 million in a Nasdaq listing in May, has teamed up with a Middle Eastern partner to launch the business beyond China. 

The chain will establish a joint venture with Americana Group, an integrated food company that runs 1900 restaurants in mostly the Middle East, including United Arab Emirates and Saudi Arabia, and Egypt in North Africa, according to a company news release on Monday. The two companies will explore businesses in the Middle East and India.

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