Luckin Coffee expanded its global network to 36,310 outlets by June 30, 2026. The chain added more than 5,000 net new locations in six months despite falling same-store sales.

China accounts for 36,087 of those stores, or 99.4 per cent of the total, leaving overseas operations with a negligible share of overall sales. Top-line revenue keeps climbing, but store-level economics are tightening. Same-store sales at self-operated locations fell 5.3 per cent year on year in the second quarter. That widened the decline recorded in the first quarter. Partner-operated units faced even sharper pressure on single-store receipts.

At the end of the second quarter, the brand operated 23,734 self-managed locations and 12,576 franchised partner stores. Franchises made up 34.6 per cent of the global estate. That stayed close to the 34.8 per cent share logged at the close of 2025, but represents a net increase of 1,762 shops from 10,814 outlets six months earlier.

Revenue from partner stores reached 36.68 billion RMB in the second quarter, up 27.9 per cent year on year to generate 23.1 per cent of Luckin’s total net revenue. In the prior-year period, partner stores brought in 28.67 billion RMB across 9,238 locations. Store count jumped 36.1 per cent over that span while partner revenue grew only 27.9 per cent, showing dilution on the ground. In dense urban districts, new openings siphon foot traffic from established shops under the same brand.

This shift alters the math for prospective franchisees. Store construction and fit-out costs remain flat. However, longer payback windows mean operators face limited downside alongside lower profit ceilings.

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