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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.

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.

mobility china wuhan covid-19 luckin coffee car inc saic ride-hailing
Posted inHeavy Hitters

China’s SAIC to take over Luckin founder’s car business

by Jill Shen Jul 3, 2020Jul 3, 2020

If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.

Luckin coffee fraud falsified starbucks
Posted inHeavy Hitters

Luckin shares dip further despite refuting fraud claims

by Emma Lee Feb 4, 2020Mar 17, 2020

Luckin responded Monday to fraud allegations from an anonymous report publicized by short seller Muddy Waters on Friday.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin may face shareholder fraud lawsuit

by Emma Lee Mar 6, 2020Mar 17, 2020

Luckin is being investigated in the US for defrauding investors amid pressing concerns to recoup a dropoff in sales as a result of Covid-19.

Luckni Coffee China offline-to-online e-commerce Starbucks tech app
Posted inHeavy Hitters

Luckin Coffee testing self-service coffee machines

by Emma Lee Jun 14, 2019Mar 17, 2020

Users can locate the nearest coffee machine and place an order through the Luckin app.

Customers of Luckin Coffee wait in line to place their order at the counter in Pudong, Shanghai on April 4, 2019. (Image Credit: TechNode/Eugene Tang)
Posted inHeavy Hitters

Luckin reportedly seeking Ele.me tie-up for deliveries amid profit pressures

by Jill Shen May 8, 2019Jun 8, 2020

The news also immediately comes after a delivery partnership between Luckin and Meituan was announced in December 2018.

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  • SAIC, Alibaba-backed ride-hailer Xiangdao Chuxing secures $150 million in Series B Aug 16, 2022
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