Luckin Coffee appointed Philip Yifei Bao of Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, to its board of directors on October 8, 2026, according to a report by Simply Wall St.
The board appointment follows Mubadala's participation in an investment valued at approximately $1 billion alongside private equity firm Centurium Capital. The governance update strengthens strategic ties between the UAE sovereign fund and the Chinese consumer retail operator.
The company, which operates tens of thousands of stores and serves hundreds of millions of customers, recently reached 100 operational outlets in Singapore. The report noted that Luckin Coffee is actively evaluating expansion into the Gulf region.
Sources
- Simply Wall St · 2026-10-08
