luckin coffee

Retail Asia17/03/2023

Luckin Coffee, the once-troubled Chinese coffee chain, is slated to open up locations in Singapore as early as this month. The development follows the coffee chain’s job postings earlier this year looking for store managers in the city-state. It also aims to fill marketing, project management, and engineering roles. The firm also previously told Chinese media […]

Retail Asia20/04/2021

Luckin Coffee, the scandal-plagued Chinese coffee shop chain, secured a $260 million investment from existing shareholders Centurium Capital and Joy Capital. It also replaced its independent auditor. This will help Luckin satisfy a $180 million settlement struck last year with the SEC, which had accused Luckin of faking retail sales figures. The company went public […]

Retail Asia24/09/2020

Disgraced Chinese coffee chain Luckin Coffee, along with more than 40 other firms involved in the deception, has been fined almost US$9 million for falsifying its financial records. According to reporting, China’s finance ministry has previously found Luckin to have booked RMB2.25 billion in sales via counterfeit coupons between April and December last year, as […]

Retail Asia15/07/2020

Luckin Coffee has named Jinyi Guo as chairman and CEO as the Chinese chain tries to move past an accounting scandal that nearly brought it down. Guo, a director, and former acting CEO, replaces founder and former chairman Charles Zhengyao Lu, who was voted out by shareholders, the company said Monday in a statement. Yang […]

Retail Asia06/04/2020

Chinese chain Luckin Coffee has admitted senior executives exaggerated sales to boost the company’s worth and reputation. In a stunning admission, the company has advised investors not to rely on financial statements for the nine months to September last year. Transactions totaling about 2.2 billion yuan (US$310 million), have been cited. COO Jian Liu and […]

Retail Asia07/01/2020

Luckin Coffee has now become the largest coffee chain in China, surpassing Starbucks in terms of number of locations. The firm has launched 4500 outlets within the Chinese territory, around 200 more than its Seattle-headquartered competitor. The brand soared past Starbucks late last year and has rapidly multiplied its footprint in the market backed by […]

Retail Asia06/08/2019

China’s Luckin Coffee wants to expand into India and the Middle East. The company has signed a memorandum of understanding to create a joint venture with Kuwait-based Americana Group which will open stores across the Greater Middle East and India. No further details have been released, according to Reuters. Luckin, which sells coffee by app […]

Retail Asia30/07/2019

Luckin Coffee, the Chinese cafe startup that has directly taken on Starbucks in the territory, is moving into the takeaway tea market with its new Xiaolu brand. “Coffee and tea are the two most popular drinks in the office,” said Luckin VP Jinyi Guo. “However, there are currently few renowned brands of milk tea in China, the […]

Retail Asia14/05/2019

China’s Luckin Coffee has filed for a US IPO seeking to raise up to US$800 million. For the time being, the IPO is officially indicated by a $100 million placeholder figure, however knowledgeable sources have disclosed the actual amount sought may be more than $500 million and up to $800 million, with the company’s valuation […]

Retail Asia18/12/2018

Fast-growing Chinese cafe chain Luckin Coffee has raised US$200 million in its latest funding round, effectively valuing the company at a stunning $2.2 billion. That’s up to $700 million more than its value was estimated just one month ago when the quest for funding was announced. Launched only in January, the company had already opened more […]

Retail Asia12/11/2018

Fast-growing Chinese coffee chain Luckin Coffee is seeking a new round of funding which would value it at US$1.5–2 billion. Launched only this year, the company has already opened more than 1400 outlets in 21 mainland locations, its rapid growth based on its inexpensive delivery service concept and online ordering system. Luckin’s aggressive competitive strategy […]

Retail Asia03/08/2018

Starbucks China and Alibaba have announced an alliance that stretches way beyond the latter’s online delivery platform Ele.me. The two companies describe their pact as “a deep, strategic New Retail partnership” that will enable a seamless Starbucks experience and transform the coffee industry in China. The partnership spans Ele.me, the food delivery platform acquired by […]

Retail Asia12/07/2018

Starbucks’ second-largest market after the US is China, where it has over 3,300 stores and operates with virtually no serious competition. A Beijing-based startup could change that. Luckin Coffee has opened 525 outlets across China’s major cities less than nine months after its launch (link in Chinese). Today the fast-growing company confirmed it’s closed a $200 million […]

Tag: luckin coffee

Luckin Coffee to make Southeast Asia debut in Singapore this month

Scandal-plagued Luckin Coffee secures US$250 million lifeline

Luckin Coffee fined US$9 million for accounting fraude

Luckin Coffee names new chairman and CEO after founder ousted

Luckin Coffee’s value crashes after it admits falsifying sales data

Luckin Coffee stronger than Starbucks in China

Luckin Coffee plans expansion into India and Middle East

Luckin Coffee to launch tea brand Xiaolu

China’s Luckin Coffee Looking at The USA

Luckin Coffee worth $2.2 billion in quite short time

China’s Luckin Coffee worth $2 billion after just less than a year

Starbucks and Alibaba form New Retail Partnership in China

A startup challenging Starbucks in China is now worth $1 billion