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Luckin coffee offline store
Posted inHeavy Hitters

Luckin Coffee files for bankruptcy in the US

by Carolyn Surh Feb 6, 2021Feb 10, 2021

Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.

Luckin coffee fraud falsified starbucks
Posted inHeavy Hitters

Luckin agrees to $180 million fine for US fraud

by Emma Lee Dec 18, 2020Dec 18, 2020

Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges brought by the US market regulator.

pinduoduo e-commerce alibaba tech war iphone
Posted inHeavy Hitters

Pinduoduo blasted for user privacy breach, Luckin franchises: Retailheads

by Emma Lee Jan 20, 2021May 31, 2021

Pinduoduo is under fire again for deleting pictures from a user’s photo album without consent. Luckin opens up to franchises in lower-tier cities.

tiktok national security US app bans
Posted inHeavy Hitters

TikTok eyes social shopping, Luckin bankruptcy: Retailheads

by Emma Lee Feb 10, 2021Feb 10, 2021

TikTok is planning to roll out a livestream shopping feature, coffee chain Luckin filed for bankruptcy in the US, Vipshop.com is fined RMB 3 million.

Luckin coffee fraud falsified starbucks
Posted inHeavy Hitters

Luckin Coffee admits to sales fraud

by Emma Lee Apr 3, 2020May 2, 2020

Luckin confirms sales fraud, two months after doubts about the disclosure accuracy by the Chinese Starbucks rival.

luckin coffee starbucks fraud misconduct false sales
Posted inHeavy Hitters

Luckin faces effort to delist company from Nasdaq

by John Artman May 19, 2020May 19, 2020

Luckin may be kicked off Nasdaq over fraud admission as board seeks to rein in shady listings. Delisting would put Luckin in the company of penny stocks.

contactless delivery eleme ele.me alibaba on demand delivery driver
Posted inHeavy Hitters

Ele.me faces backlash, Luckin coup: Retailheads

by Emma Lee Jan 13, 2021May 31, 2021

Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.

Luckin Coffee fraud starbucks
Posted inHeavy Hitters

China’s top regulators are investigating Luckin Coffee

by Emma Lee Apr 28, 2020Apr 28, 2020

The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin fined, VCs seek out new Chinese brands: Retailheads

by Emma Lee Sep 29, 2020Sep 29, 2020

Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin CEO loses ‘significant’ voting rights after loan default

by Emma Lee Apr 7, 2020Apr 9, 2020

The default followed almost immediately after Luckin disclosed that its head of operations had fabricated billions of RMB worth of sales for most of 2019.

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