China’s fast-growing “new retail” startup and purveyor of coffee Luckin has announced it has completed its A round of financing worth $200 million valuing it at $1 billion. The round was financed by Dazheng Capital, Joy Capital, the Government of Singapore Investment Corporation (GIC) and Legend Capital, Sohu reports. The rise of Luckin shows that […]
Global fast food giant McDonald’s has launched an online delivery service for McCafé, its coffee-house-style food and beverage chain.
China’s new popular coffee brand Luckin Coffee may just become another unicorn on the country’s tech scene in half a year. The Beijing-based coffee retail store is reported to have raised $200 to 300 million in Series A funding, valued at more than $1 billion, according to 36Kr (in Chinese). The company didn’t respond to […]
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 significance of the Starbucks, Alibaba deal.
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 […]
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.
Alibaba Local Services Company is embracing “new retail” to fend off competitors such as Tencent-backed Meituan.