Some web users posted pictures recently suggesting that Chinese beverage chain Luckin Coffee has opened branches in Thailand. In response, Luckin Coffee issued a statement on August 9, clarifying that such reports were not true.
Luckin Coffee began to be profitable in May this year, meaning it has achieved its annual target ahead of schedule. The firm declined to comment.
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.
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.
Chinese coffee chain Luckin Coffee’s Chairman Charles Zhengyao Lu has faced criminal charges based on evidence of his involvement in financial scandals and the company’s internal investigation, local media reported on Wednesday.
While authorities found Luckin Coffee Inc paid taxes on bogus transactions, its CEO said their business model is correct and willing to participate in any investigations.
Chinese coffeehouse chain Luckin Coffee fired its CEO and COO amid an investigation into the company’s accounting scandal.
Rumors are circulating that Chinese travel service provider Ctrip is in negotiations to buy China Auto Rental (CAR) to expand its car rental business.
After a record-setting 2018 that saw Chinese VCs ladle out cash to startups at mind-boggling valuations, current numbers spooked global investors, some of whom regard the diminished numbers as a sign of an imminent industry debacle.
While China has made great strides in promoting quality in STEM education, why is this not translating into greater equality in the upper echelons of the tech sector.
As the number of urban factory workers in Fujian is dwindling, having fallen 22% between 2012 and 2016, the region is faced by the daunting challenge of repositioning itself on the industry specialization spectrum.
Luckin Coffee, the Starbucks challenger in China, is seeking to raise up to $510 million in the U.S. initial public offering (IPO).
On April 23, Luckin Coffee, the Chinese Starbucks challenger, filed for official IPO to the U.S. Security Exchange Commission, with the ticker symbol 'LK'.
Luckin Coffee announced today that it has received additional $150 million new investments based on the Series B-round financing that was completed in November 2018. The company was valued at $2.9 billion after the investment.
Luckin Coffee, the Beijing-based Starbucks challenger, registered RMB 45 million ($6.7 million) worth of movable assets as collateral to Zhongguancun Sci-Tech Leasing, according to the National Enterprise Credit Information Publicity System.