Tencent reportedly partners Luckin Coffee to take China coffee market

Tencent reportedly partners Luckin Coffee to take China coffee market


The partnership will create a “new lifestyle of ‘smart retail’ through tie-up on user traffic, technology exploration, application scenarios and management abilities,” said Lei Maofeng, deputy general manager of Tencent’s payment platform WeChat Pay, the SCMP reported.

Tencent did not respond to CNBC’s multiple requests for comment.

The announcement comes just a month after rivals Alibaba confirmed that its food delivery arm, Ele.me, has teamed up with Starbucks to deliver coffee and snacks to Chinese consumers starting in fall in Beijing and Shanghai. Before the end of the calendar year, the partnership will broaden delivery to 2,000 stores in 30 cities, according to Starbucks President and CEO Kevin Johnson.



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