Luckin’s announcement comes amid its escalating battle with Starbuck for China’s caffeinated drink lovers.
Hot Chinese coffee company’s new fundraising comes just months after last round.
The company said it operates 100% under the direct sales model and has not accepted franchising of any form.
With tech giants moving aggressively into new retail, the coffee market is reaching its boiling point.
Global fast food giant McDonald’s has launched an online delivery service for McCafé, its coffee-house-style food and beverage chain.
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 […]