Luckin Coffee, flush with Persian Gulf cash, weighs entry into Middle East markets

FUZHOU, CHINA - NOVEMBER 16, 2025 - The newly opened Luckin Coffee container themed store in Gushan Tourist Scenic Area, Fuzhou, Fujian Province, China on November 16, 2025.Cfoto | Future Publishing | Getty ImagesSINGAPORE — Luckin Coffee is once again weighing an entry into Persian Gulf markets after securing backing from Abu Dhabi's sovereign wealth fund Mubadala. Luckin's senior management is considering expanding into the Gulf countries, Chairman David Li told CNBC in an exclusive interview on Monday. Li is the co-founder and CEO of private equity firm Centurium Capital, the controlling shareholder of China-based Luckin. "There are other markets we are currently looking at [and] potentially entering into regions like Gulf countries," Li said.Mubadala has become a direct investor in Luckin after a $1 billion joint investment with Centurium in early September, with neither side disclosing the respective stake size. The $385 billion sovereign fund has invested more than $20 billion in China, including into e-commerce giant Shein and real estate developer Dalian Wanda's shopping malls business. Luckin had in 2019 planned to open shops in the Middle East and India, but that never ca...