Luckin adds 2,599 stores in third quarter as profit climbs 45%
Coffee chain Luckin Coffee Inc. (LKNCY.US) reported on Tuesday that its revenue rose 17% year-on-year to 17.89 billion yuan ($2.67 billion) in the third quarter, while its net income increased…
BRIEF: Luckin considers Blue Bottle bid in globalization, upmarket push
Luckin Coffee Inc. (LKNCY.US) is considering a bid for Nestlé SA’s (NESN.SW) Blue Bottle Coffee specialty coffee chain, according to people familiar with the matter cited by Bloomberg. The move…
BRIEF: Starbucks sells 60% of China business to Boyu Capital at $4 billion valuation
U.S. coffee chain giant Starbucks Corp. (SBUX.US) announced on Monday that it has reached an agreement with Chinese private equity major Boyu Capital to form a joint venture that will…
BRIEF: Luckin launches in U.S. without signature budget pricing
Chinese coffee chain Luckin Coffee (LKNCY.US) has officially entered the U.S. with the June 30 opening its first two stores in Manhattan, New York, marking a significant step in its…
FAST NEWS: Luckin’s operating profit surges on rapid expansion
The latest: Chinese coffee chain operator Luckin Coffee Inc. (LKNCY.US) announced Tuesday that its revenue in the second quarter jumped 88% year-on-year to 6.2 billion yuan ($870 million), while its…
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