Luckin

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 Asia26/10/2022

Former executives of Luckin Coffee, Jenny Qian and Charles Lu, have introduced the first location of their new coffee venture Cotti. Earlier this year, the coffee chain was reported to be registered with a capital of $100 million with Qian as the legal representative. Cotti’s management team include employees of Lu from Luckin Coffee and […]

Retail Asia10/08/2022

Two years after it was forced to withdraw from the Nasdaq for an accounting fraud, China’s Luckin Coffee believes it has emerged from its “darkest moment”, and said it remains committed to U.S. capital markets as it expands its stores and sales. Luckin admitted in 2020 that about $310 million of its sales were fabricated […]

Retail Asia18/02/2022

Coffee chains such as Luckin Coffee and Tim Hortons have increased the prices of their beverages in China, with U.S. giant Starbucks blaming “multiple factors” such as higher operating costs. The chains, among China’s largest coffee players, raised prices by between 1 yuan and 3 yuan ($0.16 and $0.47), according to menus on mobile apps and […]

Retail Asia09/04/2020

Disgraced Chinese coffee giant Luckin has apologized to customers and promised business as usual following a widely publicized admission that the firm had fabricated sales figures. The apology came while downloads of its delivery app skyrocket as Chinese consumers seek to take advantage of a longstanding offer of a free drink. Reporting suggests downloaders are […]

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 Asia10/01/2020

China’s largest coffee chain Luckin Coffee is moving into the vending machines market. “It allows us to get closer to consumers and we are not restricted by the license approvals,” said Luckin founder and CEO Qian Zhiya of the new strategy. Luckin’s machines will serve freshly brewed drinks as well as food. The firm also […]

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 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 Asia21/01/2019

Luckin vs Starbucks: baristas and technology are engaged in a gigantic battle for Chinese coffee drinkers’ loyalty. Seattle, Washington-based Starbucks Corporation has been the indisputable market leader in the Chinese coffee industry ever since its Beijing World Trade Center branch opened its doors in January 1999. Yet Starbucks’ two decades of coffee dominance in China […]

Tag: Luckin

Luckin Coffee to make Southeast Asia debut in Singapore this month

Luckin Coffee’s former executives introduce first store of new coffee brand

China’s Luckin Plans Store Expansion, Remains Committed to USA Market

Coffee chains Starbucks, Luckin raise prices in China

Consumers swamp Luckin Coffee app in wake of controversy

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

Luckin Coffee ways into the vending-machines landscape

Luckin Coffee stronger than Starbucks in China

China’s Luckin Coffee Looking at The USA

Luckin, Starbucks rivalry heats up