Tech-enabled coffee chains eyeing Singapore as prized battleground for supremacy

IN 2016, Alibaba founder Jack Ma coined the term “new retail” to describe how the blending of the physical and digital worlds was creating a new experience for consumers.

Two years later, technology-driven coffee chains became a hot favourite of venture capitalists. Luckin Coffee, founded in Beijing, was a poster child for how quickly a food and beverage brand could grow by weaving tech into every aspect of the business.

Luckin went public in New York in 2019 at a valuation of US$4.2 billion, barely two years after it started operations. Since then, the model has inspired a number of coffee chains in South-east Asia, such as Kopi Kenangan in Indonesia and Flash Coffee in Singapore.