Luckin Coffee Faces Internal Strife, CEO Guo Jinyi Urged to Step Down
On the evening of Jan. 6, it was reported that middle and senior executives of Luckin Coffee signed a joint letter, accusing the current chairman and CEO Guo Jinyi.
Tag: #Coffee
Showing 12 of 25 posts with this tag
Starbucks Surpasses 7,000 stores in China, Reiterates "No Intention to Participate in Price Wars"
At present, Starbucks has surpassed 7,000 stores in the mainland Chinese market and is confident in continuing to be a leader in China's high-end coffee market.
2/2/20243 min read
HeyTea Invests in Seesaw Coffee
On Wednesday, Seesaw Coffee announced it completed its A + round of financing, bagging over 100 million yuan, with HeyTea as a new investor, followed by Hongyi Baifu, an old shareholder. This is the first time HeyTea has invested in a coffee brand.
Tim Hortons Unveils Chinese Brand Name After Local Division Lists on Nasdaq
Canadian coffee chain Tim Hortons officially announced on January 9 the new name of its Chinese brand – "Tianhao Coffee" – in Shanghai. It indicates another important market strategy of its local division since listing on the Nasdaq.
Cotti Coffee Denies Rumours of Store Closures: Only 61 Stores Have Been Closed
In response to recent rumors on the internet about Cotti Coffee closing down, Cotti Coffee responded that since its opening in October 2022, a total of 61 stores have been closed.
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.
1/12/20222 min read
Genki Forest Enters Coffee Market to Become the Biggest Shareholder of Never Coffee
Leading bottled beverage brand Genki Forest has become the biggest shareholder of Never Coffee, now representing 51% ownership in the specialty coffee and e-commerce platform.
ByteDance’s Entry into Coffee Market, "ByteCoffee" Trademark in Process of Registration
Beijing Bytedance Technology Co., Ltd. has applied for a number of "ByteCoffee" trademarks, which are currently in the process of registration.
10/10/20201 min read
Starbucks to Expand Footprint in China by Adding 600 Stores by 2021
Starbucks is planning to open 600 new stores in China next year, thus operating 6,000 stores across 230 cities by the end of 2022.
12/11/20203 min read
Luckin Coffee Reaches Preliminary Agreement Worth $175 million for Class Action Settlement
Chinese coffee company and coffeehouse chain Luckin Coffee Inc. has reached a $175 million settlement in its shareholder class-action lawsuit.
10/27/20212 min read
NIO Starts Selling Coffee, Applies for Related Trademarks
China's automobile and coffee industries have been getting closer and closer lately. In October of this year, domestic electric vehicle maker NIO applied for several trademarks related to coffee in a bid to search for new growth points.
11/25/20223 min read
China VC Weekly: Coffee and AI
Two prominent Chinese coffee chains Seesaw and M Stand both raised considerable rounds that will go towards expansion, while prominent local AI firm 4Paradigm bagged over $230 million for R&D and ecosystem improvement.