Luckin Coffee to ramp up global expansion

Chinese coffee chain player Luckin Coffee is looking to expand in the United States and other overseas markets amid intensified domestic competition that is impacting same-store sales.

Guo Jinyi, chairman and CEO of Luckin, said during an earnings call on Wednesday that the international market is filled with opportunities, but also presents significant challenges that require patience, time and continuous investment.

Guo said: "We remain both patient and confident in our ability to succeed.