Luckin Coffee's annual revenue exceeded 10 billion yuan ($1.45 billion) for the first time last year. This year, the Chinese coffee chain targets to establish 10,000 stores despite competition from Cotti Coffee, a new brand launched by Luckin former chairman Charles Lu.
Recently, on JobStreet, a recruitment website in Southeast Asia, Chinese coffee chain Luckin Coffee was shown to be recruiting store managers in Singapore, offering a monthly salary ranging from S$3,800 to S$4,900 ($2,824 - $3,641).
Chinese beverage chain Luckin Coffee announced its launch of a new round of partner recruitment to expand franchised stores on December 5. The initiative covers nine provinces and 41 urban areas, mainly in third- and fourth-tier cities.
Pictures of a new "Maners Coffee" store located in Hong Kong's World Trade Centre were posted on November 21 on Xiaohongshu, a popular Chinese lifestyle-sharing platform. Apart from a slight change in its name, the logo is consistent with that of mainland chain Manner Coffee.
On November 7, Sean Ma, the founder of Snow Lake Capital, a hedge fund that reportedly produced a damning 2020 short report on Luckin Coffee, released another research report claiming that "the rebirth of Luckin Coffee is a miracle in Chinese business history!"
On August 22, Chinese coffee chain Luckin Coffee issued a statement on infringement phenomena about its partnership model, saying that it has suspended the recruitment of partnership store operators with uncertain reopening timetables.
Chinese beverage chain Luckin Coffee has announced its financial report for the second quarter of 2022, as well as the appointment of An Jing as its new Chief Financial Officer, effective August 8.
Chinese beverage chain Luckin Coffee released its unaudited 2022 first quarter report on Tuesday, showing it achieved revenue of 2.4 billion yuan ($359.9 million) during the period.
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.
Luckin Coffee on Thursday announced its unaudited financial results for the three months ended December 31, 2021 and entire fiscal year.
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.
Manner Coffee, a Shanghai-based coffee chain, announced on Tuesday that it will open more than 200 new cafes in 10 cities in China.
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.
Chinese beverage chain Luckin Coffee filed a document on Friday with the SEC, showing that the company had met conditions for reaching a settlement agreement whereby it will pay a fine of $180 million.
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.
A-Bite Technology, founded by former chairman of Luckin Coffee Charles Lu, is incubating a new precooked dishes project called “A-Bite Workshop.”