Recently, Luckin Coffee released its Q1 2023 financial report. The report shows that Luckin Coffee achieved a total net revenue of RMB 4.437 billion (USD 640 million) in the first quarter of this year, an increase of 84.5% year-on-year.
China's new coffee chain brand "Bestar Coffee" had recently completed an angel investing round worth tens of millions of yuan. The angel investor was Shunwei Capital.
Nowwa Coffee, a Chinese coffee chain, announced that it has completed two rounds of financing, namely, a B round and a B+ round, with a cumulative amount of 200 million yuan ($31.51 million) raised.
Hinichijou cafe, a business which recently opened for a trial operation on Nov. 15, has adopted this new way of non-interactive purchases.
Last Thursday, Chinese coffee brand Coffee Box published an article explaining why it stayed silent despite the market rumors and how its future business models will be deployed.
Lawsuit filed by China's domestic investors against Luckin Coffee's fabricated sales fraud has been proceeding by Xiamen Intermediate People's Court.
Starbucks took another step toward evolving the digital customer experience for customers in China by cooperating with Alibaba and launching a smart speaker capable of ordering coffee delivery by voice.
It seems like any person at least moderately familiar with China would know that it’s a realm of tea.
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.
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.
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.
An unstaffed coffee shop named Youhuan Bar (lit. Friends Bar) opened at the University of International Business and Economics. A reporter from Beijing Business Today (BBT) happened upon the coffee shop on the first floor of a building not far from the fields. The shop is about 10 square meters in area, and is equipped […]