Luckin doubled its valuation to US$2 billion after a recent funding round.
The company said it operates 100% under the direct sales model and has not accepted franchising of any form.
Luckin Coffee, the coffee shop startup using market acquisition tactics borrowed from China’s internet companies, has written an open letter to Starbucks accusing it of monopolistic practices in the country and proposing a possible lawsuit, according to Tencent News (in Chinese). Luckin has taken issue with Starbucks’ exclusivity rights with property owners and putting pressure […]
The rumor about a possible tie-up between Starbucks and Alibaba-backed delivery service Ele.me has been around for a while. But it turns out that the partnership is much larger in scale than previously thought. The partnership will cover nearly every key business within the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao, and Alipay.
John and Matt discuss the power of examining first principles in an increasingly mobile-centric marketplace in the case of new coffee delivery startup Luckin (瑞亲) Coffee. Links Bringing Internet Business Model to the Coffee Industry, Will Luckin Coffee Threaten Starbucks? Starbucks is opening a store in China every 15 hours Starbucks uses China as a […]
The Starbucks delivery service, for now, is only available in 10 stores in Beijing and Shanghai respectively.