According to an internal letter issued to employees by Chairman and CEO of Luckin Coffee, Guo Jinyi, Luckin had opened about 360 new stores in the month of January, setting a new record for the company.
A consortium led by Centurium Capital, a Beijing-based investment company, now owns more than 50% of domestic beverage chain Luckin Coffee, which was previously plagued by a series of scandals.
Reports have emerged that Chinese beverage chain Luckin Coffee is exploring plans to relist its shares in the U.S. following a high profile removal in June 2020. Luckin has since denied the report.
Recently, Li Guoqing, founder of Chinese e-commerce platform Dangdang, released a video questioning Luckin Coffee's purchase of nearly half of the available Hambella coffee beans.
Luckin Coffee released its unaudited financial report for the third quarter of 2021 on Thursday. The data showed that its total net revenue in the third quarter was 2.35 billion yuan ($364.7 million).
Nowwa Coffee, a Chinese coffee chain, announced that it has completed two rounds of financing, namely, a B round and a B+ round, with a cumulative amount of 200 million yuan ($31.51 million) raised.
On Tuesday evening, Luckin Coffee issued three announcements. The first was that the company had entered into a binding agreement to settle its US securities class action lawsuit with the lead plaintiffs.
Luckin Coffee Inc. released the third report of the Joint Provisional Liquidators to the Grand Court of the Cayman Islands on Tuesday night.
Chinese domestic media outlet Cailian Press on Tuesday reported that Luckin Coffee is planning a new round of financing, including participants such as Focustar Capital (FSC).
The fraud scandal hasn’t knocked Luckin out of the ring: today, it remains China's second-largest coffee chain. How did Luckin survive the turmoil?
Charles Lu, founder of the controversy-ridden Luckin Coffee, now its ousted CEO, is said to embarking on his next venture: noodles restaurants, according to the latest from 36kr.
Milk tea has become a new trend among China’s younger generations. Over the years, we’ve seen some popular milk tea brands emerging in China.
Luckin Coffee Inc. reportedly achieved positive cash flow per store in July, except for roughly 300 stores located at universities that have been closed due to the COVID-19 pandemic.
Canadian coffee brand Tim Hortons China has received an exclusive strategic investment of more than RMB 100 million from Chinese tech giant Tencent.
Episode 65 of Tech Buzz China is a special one — a reading of the seventh issue of Extra Buzz, our new biweekly newsletter written by co-host Rui Ma.