Luckin Coffee: Inks Multi-Billion RMB Deal for Brazilian Coffee Bean

Beijing / CN. (lci) On November 19, 2024, in the presence of Geraldo Alckmin, Brazil’s Vice President and Minister of Development, Industry, Trade and Services, Luckin Coffee Inc. signed a Memorandum of Understanding (MoU) with the Brazilian Trade and Investment Promotion Agency (ApexBrasil). Per the terms of the agreement, in addition to the 120,000 tons of Brazilian coffee beans that Luckin Coffee previously agreed in June to purchase over a two-year period, the Company will also purchase an additional 120,000 tons of coffee beans. In total, Luckin Coffee plans to purchase 240,000 tons of coffee beans from Brazil in the next five years, valued at 10 billion Renminbi Yuan – 1.32 billion euros or 1.38 billion US-dollars. This marks Luckin Coffee’s largest coffee bean procurement plan to date.

(Photos: Luckin Coffee)

At the signing ceremony, Dr. Jinyi Guo, co-founder, Chairman and Chief Executive Officer of Luckin Coffee said, «Fifty years ago, China and Brazil symbolically toasted with coffee to commemorate the initiation of a new chapter of mutual support and cooperation. Today, coffee once again serves as the lynchpin to the enduring friendship between our nations, unlocking vast opportunities for industrial collaboration based on mutual benefit and complementary strengths.»

Dr. Guo added, «Our goal is to make premium, delicious Brazilian coffee renowned worldwide, and this partnership has significantly advanced the economic and social development of both countries. As we look forward to the next ‘Golden Fifty Years’ of China-Brazil relations, Luckin Coffee aspires to be a bridge connecting coffee industries, fostering high-quality industry synergies and growth.»

(Photos: Luckin Coffee)

During this visit to Brazil, Luckin Coffee also established its Brazil Office, Brazil Farmer Support Center and High Quality Coffee Plantation. These initiatives will further enhance Luckin Coffee’s quality control capabilities in the upstream supply chain, support its efforts to explore and implement sustainable coffee certification standards and lay a solid foundation for the continued development of a global high-quality coffee supply chain.

As the largest coffee chain in China by store count, Luckin Coffee is one of the major importers of Brazilian coffee beans in the Chinese market. In recent years, Luckin Coffee has been deepening its collaboration with Brazilian partners in the areas of trade, economy, and culture. In 2022, Luckin Coffee announced the plan to purchase approximately 45,000 tons of Brazilian coffee beans over the next three years. In June of 2024, Luckin Coffee further enhanced its trade partnership with Brazil by signing a series of letters of intent to purchase 120,000 tons of Brazilian coffee beans over the next two years. Additionally, Luckin Coffee partnered with the Brazilian Embassy to launch the Luckin Coffee Brazil Coffee Culture Festival. The Company held a series of professional tasting salons featuring WBC World Champions and successfully concluded the Brazil series of the Luckin Coffee Global Coffee Bean Journey. Luckin Coffee’s first Brazilian coffee-themed store and the Luckin Brazilian Coffee Museum were also recently established.

(Photos: Luckin Coffee)

China’s booming coffee market provides valuable opportunities for Luckin Coffee to meaningfully engage in the global coffee trade and supply chain development. The deepened cooperation between Luckin Coffee and the Brazilian coffee industry has ushered in a new phase of industrial collaboration between the two countries, enhancing the global influence of both China and Brazil in the coffee sector. Going forward, Luckin Coffee will continue to play an active role in the innovative development of the global coffee industry, integrating high-quality global resources to build a world-class coffee supply chain. The Company aims to drive the high-quality development of the Chinese coffee market, while consistently meeting consumer demand for premium coffee and advancing toward its goal of becoming an outstanding, world-class, century-old coffee brand (Photos: Luckin Coffee).