Luckin Coffee opened its 100th Singapore store on 28 September 2026, three years after entering its first overseas market. Alongside a roughly US$1 billion transaction announced by Mubadala and Centurium, the milestone puts international execution in focus: Singapore offers operating evidence, while possible Gulf expansion remains a market-entry decision.
Singapore reaches 100 stores
Luckin’s 28 September company announcement confirmed the Bugis opening and reported more than 1.9 million cumulative transacting customers in Singapore. That is a cumulative customer measure, not monthly active users or evidence of store-level profitability.
The company had marked 60 Singapore stores on 27 March 2025. Reaching 100 represents 40 additional outlets—approximately 67% growth in the reported network over about 18 months. It does not measure growth in sales from existing stores.
Product localisation is part of that expansion. Luckin’s milestone release highlights Singapore-oriented drinks using pandan, brown sugar and Milo. Branding in Asia’s report, published on 29 September, places the 100th outlet at Bugis Junction and traces the 2023 launch to Marina Square and Ngee Ann City.
What the US$1 billion transaction actually covers
On 10 September 2026, Mubadala announced an agreement to make a significant minority investment in Luckin alongside its controlling shareholder, Centurium. It described the aggregate transaction value as approximately US$1 billion.
That figure is the announced aggregate transaction value. It is not a disclosed US$1 billion Middle East store-opening budget, and the announcement does not establish that Mubadala alone contributed the entire amount. Mubadala’s stated investment case covers Luckin’s Chinese business and international growth.
Gulf expansion is under consideration, not an announced launch
Seeking Alpha reported on 29 September that chairman David Li had told CNBC the company was considering expansion into Persian Gulf markets. World Coffee Portal’s same-day coverage also reported management’s interest in the region.
The sources reviewed do not announce a first Gulf store, opening date, local operating partner or franchise application programme. Investors should distinguish strategic interest from a signed development agreement. Capital backing alone does not specify which operating model Luckin would choose.
Commercial implications for operators and investors
Star Brands’ analysis: Singapore’s network provides a more useful operating reference than a global store count alone. A new-market model should examine customer repeat purchases, net spend after discounts, collection versus delivery demand and the number of orders each location can serve at peak times. Store growth demonstrates expansion capacity; margins and cash generation require separate evidence.
Localisation also needs an operating budget. A market-specific drink adds ingredient sourcing, quality control, training and demand forecasting. Its commercial value depends on repeat sales and contribution after those costs, not just launch publicity.
For a potential Gulf entry, the first investment task is to define the operating structure. A company-operated subsidiary, joint venture and licensed development partner allocate capital, control and execution responsibilities differently. None should be described as Luckin’s chosen Gulf model without an announcement or agreement.
An operator preparing for a future discussion should assemble a focused country case: suitable store formats and sites, coffee-sector management experience, a local supply and delivery plan, and capital matched to a staged rollout. The proposal must quantify customer acquisition and store economics rather than treat the Mubadala transaction as a substitute for local commercial evidence.
Prepare a coffee market-entry assessment
Star Brands Consulting Group supports coffee-sector investors with market assessment, operator qualification and partnership preparation. For the distinction between Luckin’s domestic partner programme and negotiated international arrangements, read our Luckin Coffee franchise and licensing guide.
Discuss your coffee market-entry project with your target country, available capital and operating background. We build the commercial case and assess the relevant partnership route; this report does not represent an offer of Luckin rights.
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