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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 starbucks vending machine fraud privacy apps
Posted inOn the Cusp

Luckin names new chairman and CEO in power shakeup

by Emma Lee Jul 14, 2020Jul 14, 2020

Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.

Luckin Coffee fraud starbucks
Posted inOn the Cusp

Luckin apologizes to staff after month-long fraud tumult 

by Emma Lee May 13, 2020May 13, 2020

Luckin apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.

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 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.

Luckin Coffee fraud starbucks
Posted inOn the Cusp

Starbucks rival Luckin Coffee files for US IPO

by Emma Lee Apr 23, 2019Jun 8, 2020

The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.

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.

Posted inUp and Comers

Coffee Box, another Starbucks challenger, raises RMB 200 million

by Jill Shen Apr 25, 2019Jun 8, 2020

Coffee Box began by offering delivery services from coffee chain brands including Starbucks.

Luckin Coffee
Posted inUp and Comers

‘New retail’ coffee startup Luckin completes $200 million A round

by Masha Borak Jul 11, 2018Jun 7, 2020

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 […]

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