Luckin Coffee’s former executives introduce first store of new coffee brand
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Former executives of Luckin Coffee, Jenny Qian and Charles Lu, have introduced the first location of their new coffee venture Cotti.
Earlier this year, the coffee chain was reported to be registered with a capital of $100 million with Qian as the legal representative. Cotti’s management team include employees of Lu from Luckin Coffee and Chinese car rental companies UCar and Car Inc, reports Pandaily.
Cotti Coffee’s first store is located in Fuzhou, serving coffee and Italian desserts in the morning and meals and wine in the evening. The brand has also launched the ordering and food delivery feature on WeChat, offering more than 40 products with prices ranging from $2.48 to $4.41.
The coffee chain will introduce two store formats – a 50sqm mini store for takeaway and a larger standard footprint offering more of an in-store experience. Following the physical launch, Cotti Coffee will become the sponsor of Argentina’s national football team, serving co-branded drinks in China during next month’s World Cup.
Lu left Luckin Coffee after the $340 million fabricated sales scandal in 2020. The controversial coffee chain was delisted from Nasdaq soon after that. IiMedia Research estimated the Chinese coffee industry will maintain a growth rate of 27.2 per cent and reach $137 million in 2025.
Questions & Answers
Q.What kind of experience does Cotti Coffee offer customers in its first store?
What kind of experience does Cotti Coffee offer customers in its first store?
The first Cotti Coffee store in Fuzhou serves coffee and Italian desserts in the morning. In the evening, it provides meals and wine, offering a varied experience for customers throughout the day.
Q.How will Cotti Coffee appeal to customers in China during the upcoming World Cup?
How will Cotti Coffee appeal to customers in China during the upcoming World Cup?
Cotti Coffee will become a sponsor of Argentina’s national football team. They will serve co-branded drinks in China next month, coinciding with the World Cup to attract customers.
Q.What range of products and prices does Cotti Coffee offer through its WeChat platform?
What range of products and prices does Cotti Coffee offer through its WeChat platform?
The brand has launched over 40 products on its WeChat ordering and delivery feature. These items are priced between $2.48 and $4.41, offering a variety of choices for customers.
Q.Who are the key people involved in Cotti Coffee's management team?
Who are the key people involved in Cotti Coffee's management team?
Cotti's management team includes employees who previously worked for Charles Lu at Luckin Coffee. Staff from Chinese car rental companies UCar and Car Inc are also part of the team.
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