Chinese beverage chain Luckin Coffee released its unaudited financial report for the first half of 2021, posting doubled revenue.
Luckin Coffee is striving for a business turnaround and repairing its image after the April 2020 fraud scandal.
Luckin looks to fund its aggressive growth tactics including a vending machine initiative, and expansion into other consumables and overseas markets.
The news also immediately comes after a delivery partnership between Luckin and Meituan was announced in December 2018.
Alibaba raises its bet in the logistics industry, China’s coffee war continues to brew, Bytedance adds a crucial piece to its e-commerce puzzle.
Coffee Box began by offering delivery services from coffee chain brands including Starbucks.
China’s “new retail” startup Luckin Coffee announced today to accelerate and expand its business in light meals and snacks. The news comes just days after rumors that Luckin’s biggest competitor Starbucks is planning to deliver coffee with the help of Alibaba-owned food delivery platform Ele.me. During its press event on August 1st, Luckin introduced a price […]
China’s fast-growing “new retail” startup and purveyor of coffee Luckin has announced it has completed its A round of financing worth $200 million valuing it at $1 billion. The round was financed by Dazheng Capital, Joy Capital, the Government of Singapore Investment Corporation (GIC) and Legend Capital, Sohu reports. The rise of Luckin shows that […]
China’s new popular coffee brand Luckin Coffee may just become another unicorn on the country’s tech scene in half a year. The Beijing-based coffee retail store is reported to have raised $200 to 300 million in Series A funding, valued at more than $1 billion, according to 36Kr (in Chinese). The company didn’t respond to […]
Luckin Coffee (瑞幸咖啡), a new coffee brand the “new retail professional coffeeshop operator”, has announced that it now opened in 13 cities, 400 stores, served 1.3 million customers with 5 million cups of coffee after 4 months of soft launch, TMT Post is reporting. The CEO of Luckin Coffee, Qian Zhiya (钱治亚), is the former COO […]