Topic
21 stories in this topic
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…
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…
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 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…
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…
