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contactless delivery eleme ele.me alibaba on demand delivery driver
Posted inHeavy Hitters

Ele.me faces backlash, Luckin coup: Retailheads

by Emma Lee Jan 13, 2021May 31, 2021

Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.

Luckin Coffee fraud starbucks
Posted inHeavy Hitters

China’s top regulators are investigating Luckin Coffee

by Emma Lee Apr 28, 2020Apr 28, 2020

The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin fined, VCs seek out new Chinese brands: Retailheads

by Emma Lee Sep 29, 2020Sep 29, 2020

Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.

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.

Posted inWith Chinese Characteristics

CHINA VOICES | China reflects on Luckin: ‘Expert research’ and the 2VC model

by Jordan Schneider Apr 14, 2020May 7, 2020

Luckin’s impending implosion has led to a lot of soul-searching with many questioning the environment that allowed Luckin to thrive.

Posted inHeavy Hitters

Luckin Coffee to spin off tea brand

by Nicole Jao Sep 3, 2019Mar 17, 2020

Luckin Tea will launch a separate app and a mini-program focused on lower-tier cities.

Posted inHeavy Hitters

Car Inc may soon exit the Charles Lu family

by Jill Shen Jun 1, 2020Jun 1, 2020

China’s Beijing Automotive Group (BAIC) is seeking to buy a stake of up to 21.26% in Car Inc, a Hong Kong-listed car rental company formed by Luckin Coffee chairman Charles Lu.

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