Guo Jinyi, co-founder and senior vice president at Luckin, responded to the Alibaba-Starbucks deal by saying that traditional retail, even with the increased takeaway and mobile payments, is not necessarily new retail since the fundamental business model had not changed.
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.
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 […]