Xiamen, China, Nov. 22, 2024 (GLOBE NEWSWIRE) -- In the presence of Brazil's Vice President and Minister of Development, Industry, Trade, and Services, Mr. Geraldo Alckmin, Luckin Coffee, China's leading coffee chain, signed a Memorandum of Understanding (MoU) with the Brazilian Trade and Investment Promotion Agency. According to the agreement, Luckin Coffee will expand its initial June deal to purchase 120,000 tons of Brazilian coffee beans over two years by an additional 120,000 tons. This means that from 2025 and 2029, Luckin Coffee will procure a total of 240,000 tons of Brazilian coffee beans, valued at 10 billion RMB. This marks the largest coffee bean procurement plan in Luckin Coffee's history.
Guo Jinyi, Co-Founder, Chairman, and CEO of Luckin Coffee, commented: "Fifty years ago, China and Brazil ushered in a new era of collaboration through the symbolic exchange of coffee for alcohol. Today, coffee stands as a symbol of our enduring friendship and offers immense opportunities for industrial collaboration. As China and Brazil embark on the next 'Golden 50 Years' of their relationship, Luckin Coffee aims to bridge the gap between the two countries' coffee industries. We aspire to elevate high-quality, flavorful Brazilian coffee to global recognition, spreading its aroma and reputation worldwide."
As China's largest coffee chain, Luckin Coffee has emerged as a major importer of Brazilian coffee beans in the Chinese market in recent years, deepening its economic and cultural ties with Brazilian partners. In 2022, Luckin Coffee announced plans to import approximately 45,000 tons of Brazilian coffee beans over the next three years. This June, the company signed a letter of intent to purchase 120,000 tons of Brazilian coffee beans over the next two years.
In addition, Luckin Coffee collaborated with the Brazilian Embassy this year to launch the Luckin Coffee Brazil Coffee Culture Festival, hosting a series of professional tasting salons featuring World Barista Championship (WBC) winners. The company also successfully concluded the Brazil leg of its “Odyssey to the God Shot (Global Bean Search Journey)”. Recently, Luckin Coffee inaugurated its first Brazil-themed coffee store and the Luckin Brazilian Coffee Museum, further demonstrating its commitment to celebrating Brazilian coffee culture.
In addition to signing the MoU, Luckin Coffee has established several key initiatives in Brazil, including the Luckin Brazil Office, the Luckin Brazil Grower Support Center, and Luckin Coffee High-Quality Coffee Plantation. These strategic moves will further enhance Luckin Coffee's quality control capabilities at the upstream end of the supply chain, and support the company's efforts to explore and implement sustainable coffee certification standards, laying a solid foundation for the continued development of its global high-quality supply chain.
Luckin Coffee pledged to remain at the forefront of innovation within the global coffee industry. By leveraging premium resources and building a world-class coffee supply chain, the company is steadily advancing toward its goal of becoming a distinguished, century-old coffee brand.
