China’s Coffee War Escalates as Tencent Joins Hands With Luckin
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: the Newest Unicorn after First Funding Round
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.
Luckin Coffee: China’s New Coffee Unicorn?
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 to File Lawsuits Against Starbucks in China for Unfair Competition
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.
The Coffee Chain that Came Out of Nowhere with the Potential to Beat Starbucks in China
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.