Canadian coffee chain Tim Hortons has recently made further progress in plans to list its Chinese business division in the US. Silver Crest, a special purpose acquisition company, will hold a general meeting regarding the merging matter on August 18.
News emerged on Monday that Chinese beverage chain Luckin Coffee is considering carrying out a public listing in Hong Kong as its business gets back on track. However, the company issued a statement denying such reports.
Chinese coffee chain Luckin Coffee released its audited financial statements for the 2021 fiscal year on Thursday. The report shows that the revenue of Luckin Coffee throughout the year was $1.25 billion, a year-on-year increase of 97.5%.
Chinese beverage chain Luckin Coffee on Monday announced that the company has successfully completed the restructuring of financial debt and has emerged from bankruptcy proceedings under United States code.
In last week’s VC news, fast fashion e-commerce giant SHEIN set its eyes on a massive $100 billion valuation, several local AR/VR firms raised considerable investment rounds, PAG took a major stake in %Arabica, and more.
PAG has completed investment in Chinese gourmet coffee brand %Arabica, becoming a major shareholder of the firm.
Luckin Coffee on Thursday announced its unaudited financial results for the three months ended December 31, 2021 and entire fiscal year.
Coffee chain Manner Coffee announced last Sunday that it will launch delivery services in Beijing, Shanghai, Shenzhen and other cities by cooperating with food delivery giant Meituan.
Chinese beverage chain Luckin Coffee on Monday announced that, pursuant to an order by the Grand Court of the Cayman Islands dated February 25, 2022, the firm's winding up petition has been dismissed.
Seesaw Coffee has completed an A++ round financing worth several hundred million yuan. This round of financing was led by BA Capital and followed by Costone Capital.
Many Chinese web users took to social media on Wednesday to comment that Starbucks has raised the price of various products by 1-2 yuan ($0.16-0.32), including americanos, lattes and a range of food items.
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.