BusinessDec 17, 2025
Luckin Tries to Go Upmarket With Potential Blue Bottle Bet
Beverage M&A
Rhea Lobo
China’s budget coffee juggernaut wants to splash into premium waters. Luckin Coffee is weighing a bid for Nestlé’s Blue Bottle Coffee as it looks to shed its low-cost image and attract more premium customers. It’s a sharp pivot for a brand that made its name on cheap lattes and relentless expansion.
- Luckin’s Q3 net revenue hit $2.1B, up 50% year over year, with net income around $180M, highlighting the cash engine behind its deal ambitions.
- Blue Bottle, founded in 2002, became a Nestlé brand in 2017 after a roughly $425M deal and now operates across the US and key Asian markets.
Makeover time: The premium push comes alongside a comeback from its 2020 accounting scandal, with Luckin now running more stores in China than Starbucks. Talks are still early, and Luckin has already kicked the tires on considering some names like Coca-Cola’s Costa Coffee. Regardless, cheap caffeine may have built Luckin, but fancy vibes will have to carry it from here.
