Fashion
Luckin Coffee, fashion item? Vogue unveils the “it” cup
On 17 October, Vogue China hosted its Forces of Fashion gala in Shenzhen. The event is to celebrate the finalists, in particular, the winner of Vogue’s second-ever Fashion Fund competition. It was also the first time Vogue held the annual event in the Southern port city.
After the event, Vogue opened a “Wellness Market” between 18 and 23 October with partners such as the lifestyle-centric social platform Xiaohongshu (RED) and leading Chinese coffee chain Luckin Coffee, which was also the exclusive provider of tea drinks at the event. That is why we saw many stars, especially the chain’s latest brand ambassador, Chinese-born American actress Liu Yifei holding an exclusive “Forces of Fashion”-themed Luckin paper cup at the event.
After the exposure received at the event, Luckin is also providing beverages at a pop-up coffee stall for the market where themed pop-ups are strewn across the city, from a cosmetic-themed “Beauty Box” that holds the beauty products which won prizes at the event to a pop-up boutique by Tmall. The exclusive Vogue-themed Luckin paper cups and bags will be available throughout the duration of the market across Shenzhen and the neighbouring city of Guangzhou.
Shenzhen has been trying to establish itself as a new fashion capital in the southern region. Meanwhile, Luckin is also trying to make it into the “it” crowd by recruiting high-profile celebrities as ambassadors and sponsoring large events from sports to, this time, fashion. Coffee is stereotypically a fashionable drink in China.
By re-associating with these elevated events, Luckin is likely to reestablish itself as a premium brand to differentiate from the intense price war that is ongoing in the coffee and tea market, especially when its profit for H1 2024 dropped nearly 50% and its profit margin has dropped from 14.70% last year to 5.37%, mostly due to expansion and price warfare. However, it seems the chain is still offering 9.9 RMB (1.39 USD) coupons for the pop-ups.
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