Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.
Who is Luckin chairman Charles Lu, and why is he still running the show after the company admitted to major revenue fraud?
‘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.
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.
Shares slid overnight after losses hit nearly $100 million in the quarter.
Chinese-style noodle chain restaurants first became tech investor darlings in 2021 when the industry faced tightened regulation.
Luckin is under financial pressures as the startup coffee chain is showing signs of overheating.
Luckin Coffee and Tencent have been partners since Sept. 2018.
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 […]
A new round of consolidation in China’s community grocery delivery market is wiping out all but the largest players.