Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.
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Posted inOn the Cusp
Charles Lu: The man behind Luckin and China’s fastest IPOs
Who is Luckin chairman Charles Lu, and why is he still running the show after the company admitted to major revenue fraud?
Posted inViews
Luckin fraud admission leaves more questions than answers
‘If there’s anything to be learned about Luckin Coffee, it’s that there’s always more than meets the eye.’ Luckin skeptic Michael Norris has more questions.
Posted inOn the Cusp
Luckin’s Charles Lu survives first round of ouster
Charles Lu may still face a shareholder vote on to remove him as a director during an extraordinary general meeting to be held on Sunday.
Posted inThe Numbers
Luckin’s net losses doubled in Q2 as cash-burning continues
Shares slid overnight after losses hit nearly $100 million in the quarter.
Posted inHeavy Hitters
INSIGHTS | Is noodle chain the new blue ocean for China tech VCs?
Chinese-style noodle chain restaurants first became tech investor darlings in 2021 when the industry faced tightened regulation.
Posted inOn the Cusp
Luckin offers $6.7 million in assets as lease collateral, signaling money woes
Luckin is under financial pressures as the startup coffee chain is showing signs of overheating.
Posted inOn the Cusp
Luckin sets up QQ-themed store with Tencent to tap nostalgic Chinese millennials
Luckin Coffee and Tencent have been partners since Sept. 2018.
Posted inOn the Cusp
Meteoric cafe startup Luckin Coffee threatens Starbucks with unfair competition lawsuit
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 […]
Posted inHeavy Hitters
The Big Sell | China’s grocery delivery fever is cooling down
A new round of consolidation in China’s community grocery delivery market is wiping out all but the largest players.
