Former Luckin Coffee executives Jenny Qian and Charles Lu introduced the first location of their new Cotti coffee business.
Earlier this year, the coffee chain was reportedly registered with a capital of $100 million with Qian as its legal representative. Cotti’s management team includes employees of Lu from Luckin Coffee and Chinese car rental companies UCar and Car Inc, Pandaily reports.
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 also launched the food ordering and delivery feature on WeChat, offering more than 40 products at prices ranging from $2.48 to $4.41.
The cafe chain will introduce two store formats: a 50m² mini-store for take-out and a larger standard footprint offering more of an in-store experience. Following the physical launch, Cotti Coffee will become the sponsor of the Argentina national soccer team, serving co-branded drinks in China during next month’s World Cup.
Lu quit Luckin Coffee after the 2020 $340 million fabricated sales scandal. The controversial coffee chain was delisted from Nasdaq soon after. IiMedia Research estimated that the Chinese coffee industry will maintain a growth rate of 27.2% and reach $137 million in 2025.
