∗Luckin Coffee Archives

Luckin Coffee Aims to Open 10K Stores

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.

Luckin Coffee Starts Recruitment in Singapore

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).

Luckin Coffee Launches Franchise Expansion Drive

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.

Manner Coffee to Open Store in Hong Kong

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.

Snow Lake Capital, After Helping Expose Luckin Coffee’s Fraud, Now Praises Its Rebirth

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!"

Luckin Coffee Suspends Recruitment for Operator of Partnership Stores

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.

Luckin Coffee’s Q2 Net Revenue Up 72% YoY

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.

Luckin Coffee Delivers First Quarterly Operating Profit Since Founding

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.

Luckin Coffee Denies Plan for Hong Kong IPO

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.

Luckin Coffee Greatly Reduces Operating Losses in Fiscal Year 2021

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%.

Luckin Coffee Completes Debt Restructuring, Emerges From Bankruptcy

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 Reports $1.25B Revenue in 2021

Luckin Coffee on Thursday announced its unaudited financial results for the three months ended December 31, 2021 and entire fiscal year.

Luckin Coffee Announces Successful Conclusion of Provisional Liquidation

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.

Coffee Unicorn Manner Accelerates Expansion

Manner Coffee, a Shanghai-based coffee chain, announced on Tuesday that it will open more than 200 new cafes in 10 cities in China.

Luckin Coffee Opens Nearly 360 Stores in January

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.

Luckin Coffee to Pay $180 Million to Settle Accounting Fraud Charges

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.

Centurium Capital Gains Control of Chinese Beverage Firm Luckin Coffee

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.

Luckin Coffee Denies Nasdaq Relisting Plan

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.

Dangdang Founder Accuses Luckin Coffee of Monopolizing Ethiopian Coffee Beans

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.

Former Chairman of Luckin Coffee Charles Lu Enters Precooked Dishes Market

A-Bite Technology, founded by former chairman of Luckin Coffee Charles Lu, is incubating a new precooked dishes project called “A-Bite Workshop.”

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