Chinese coffee chain Luckin Coffee and Louis Dreyfus Company recently signed a strategic cooperation agreement to establish a joint venture to develop juice joint brand business in China.
Luckin Coffee's chairman Lu Zhengyao, LDC's chairman Margarita Louis-Dreyfus, and LDC's global CEO Ian McIntosh attended the signing ceremony.
LDC is one of the largest juice manufacturing and trade companies in the world. According to the agreement, the two parties will jointly invest to build a NFC juice manufacturing processing factory in China and launch a joint juice brand. LDC will provide juice raw materials and the joint venture factory will be responsible for juice bottling processing. The factory will not only directly supply to Luckin Coffee, but also will sell products via multiple channels across the country.
Guo Jinyi, senior vice president and co-founder of Luckin Coffee, said that China is the fastest growing NFC juice market in the world and LDC is one of the top juice manufacturer and trader in the world. LDC's businesses cover the entire value chain and it has diversified product and region portfolio.
Luckin Coffee and LDC have strong synergistic effect. By building the joint venture factory with LDC, Luckin Coffee will be able to extend to the upstream manufacturing link, which will help the company control product quality and further meet the diversified product demands of customers.
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