The answer is NO. If you go to a Starbucks in the U.S., chances are you would bump into clusters of coffee consumers leisurely chatting to one another while waiting for their daily dose of caffeine. But if you are at a Luckin Coffee, you might only see the apparition of these faces in the…
In episode 32 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about Luckin Coffee, the hybrid online-offline coffee chain unicorn startup that’s turning heads in China with its rapid expansion and innovative business model.
Bejing-based coffee chain Luckin Coffee and Internet giant Tencent openly challenge the Starbucks-Alibaba alliance by announcing their strategic agreement on September 6.
Luckin Coffee announced on July 11 the completion of their Series A funding round, giving the company a valuation of $1 billion and bringing it into the unicorn club.
The new retail coffee chain Luckin Coffee was rumored to have closed its Series A round at $200 to 300 million with a valuation exceeding $1 billion. The investors of this round has not been disclosed.
Luckin Coffee, a rapid expanding Chinese coffee shop, released an open letter on Tuesday, accusing Starbucks of its monopoly causing unfair competition in the market and hindering their business development.
Almost overnight, a coffee brand called Luckin Coffee made waves across China’s first and second tier cities. Luckin Coffee entered the market vigorously and aggressively.