Luckin Coffee, the company that is mainly known in the West for giving Starbucks a really hard time in China, is more than just another gastronomic novelty, it’s a phenomenon that reveals a lot about the changing nature of Chinese consumption.
Luckin Coffee, the Starbucks challenger in China, is seeking to raise up to $510 million in the U.S. initial public offering (IPO).
On April 23, Luckin Coffee, the Chinese Starbucks challenger, filed for official IPO to the U.S. Security Exchange Commission, with the ticker symbol ‘LK’.
Luckin Coffee, the Beijing-based Starbucks challenger, registered RMB 45 million ($6.7 million) worth of movable assets as collateral to Zhongguancun Sci-Tech Leasing, according to the National Enterprise Credit Information Publicity System.
Powered by technology from Alibaba, Starbucks launched its first virtual store in China on Dec. 14, providing a unified, one-stop digital experience across the Starbucks app and mobile apps within the Alibaba ecosystem such as Taobao, Tmall, and Alipay.
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…
According to Kevin Johnson Starbucks’ president and chief executive, the company is looking to eventually use the experience it has accumulated in China’s fast-paced delivery industry and apply it to the United States.
Bejing-based coffee chain Luckin Coffee and Internet giant Tencent openly challenge the Starbucks-Alibaba alliance by announcing their strategic agreement on September 6.
In one month, Chinese Starbucks customers will no longer need to wait in line for their cup of coffee as the coffee giant forms new partnership with the Alibaba Group.
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.
In the early hours of March 23, Beijing time, CNNMoney.com reported that a trade war between U.S. and China would be very bad news to some big U.S. companies.
Since following the trend and buying a popular portable juicer online, Yu Jing thinks her breakfast has improved a lot, “Each morning, I could make banana milk within seconds and it only takes simple operation. The taste is much fresher than imported Korean banana milk and the juice has no additives. Before, I only have…