In China's increasingly crowded tea and coffee market, Luckin Coffee continued its rapid expansion. Alongside refined private domain traffic management and frequent promotions, co-branding with other brands or IPs became one of its hallmark marketing strategies.

On September 4, 2023, Luckin launched the Alcohol-Flavored Latte in collaboration with Kweichow Moutai. The drink, which featured 53° Moutai Feitian as a key ingredient, became a viral sensation. It sold 5.4 million cups in a single day and generated over ¥ 100 million in sales—setting a record in China's tea and coffee industry. The campaign also triggered waves of engagement across major social media platforms. By December that year, Luckin recorded a 6% year-on-year increase in users aged 36 to 45.

Following this success, both Luckin and Moutai introduced new co-branded products with other partners. However, none matched the commercial results or viral appeal of the Alcohol-Flavored Latte. Meanwhile, signs of consumer fatigue with frequent co-branding began to emerge. Since 2019, Luckin had launched dozens of co-branded products annually. But what did these partnerships truly deliver? Why did the collaboration with Moutai become a breakout success? And should Luckin continue to rely on co-branding as a core strategy?

This case invites students to explore Luckin's co-branding approach, focusing on the blockbuster success of the Alcohol-Flavored Latte. By examining this high-impact collaboration with Moutai, students will learn about different co-branding models and their characteristics, analyze the strategic drivers behind such alliances, and identify the factors behind their success. Ultimately, students will be equipped to design and critically evaluate co-branding and crossover marketing initiatives from a strategic perspective.