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Luckin Coffee, a major Chinese coffee company, is planning to upscale its operations. The company is currently exploring potential acquisitions to establish a premium coffee business parallel to its mass-market core. Acquisition Ambition The company is…
In the third quarter, China’s Luckin Coffee Inc. experienced a significant revenue boost, supported by an impressive number of new store openings. The chain saw its total net revenue surge by 50.2% year-on-year to RMB15.287 billion (US$2.14 billion) by the…
Luckin Coffee reported an unprecedented revenue of $1.72 billion in the second quarter, representing a 47 percent year-on-year increase. This performance coincides with the expansion of the Chinese coffee chain’s global footprint to 26,206 outlets, including…
China’s largest coffee chain Luckin Coffee has signed an agreement with Indonesia’s Banggai Islands Regency, making it the exclusive premium origin of coconut milk for its flagship Coconut Latte. The memorandum of understanding it signed with the regency…
Chinese coffee chain Luckin Coffee is exploring potential expansion into the US, with a launch possibly as early as next year. During an earnings call, Luckin Chairman and CEO Guo Jinyi emphasised both the promise and challenges of overseas growth. “The…
Chinese chain Luckin Coffee will launch its first location in Malaysia, its second overseas market after Singapore. According to local sources, the launch is in collaboration with a Bursa Malaysia-listed company. Luckin Coffee intends to grow its market…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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…
