Like Tree38Likes

Luckin Coffee, China's unprofitable Starbucks rival, goes public

Reply
Page 1 of 4 1 2 3 4 LastLast
  1. #1

    Join Date
    Jan 2011
    Posts
    2,276

    Luckin Coffee, China's unprofitable Starbucks rival, goes public

    Luckin Coffee, Chinese Rival to Starbucks, Jumps in Its U.S. Trading Debut
    Luckin Coffee, an unprofitable start-up offering big giveaways and aggressive subsidies, burst less than two years ago into a Chinese coffee scene long dominated by Starbucks.
    By the end of 2018, Luckin held just over 2 percent of the market... the next-biggest competitor to Starbucks, the McDonald’s-owned McCafe, has just 5 percent of the market
    Money spent on growth led the company to record a net loss of $475 million in 2018. So far this year, the company has racked up losses of $85 million.
    Good luck-in to them.

  2. #2

    Join Date
    Mar 2007
    Posts
    1,633

    I went to one of their stores a while back. I went up to the counter and asked for a latte, was told that I had to download the app and order/pay on there. Well, I could not be arsed doing all that so I left and went to Starbucks a few doors down.

    mrgoodkat, huja, Mefisto and 5 others like this.

  3. #3

  4. #4

    Join Date
    Jul 2011
    Posts
    1,762
    shri, huja, markranson and 1 others like this.

  5. #5

    Join Date
    Dec 2002
    Location
    ???
    Posts
    33,186

    Hah .. did not remember we had a thread about them. Added the news to a Muddy Waters thread we had going for the last few years.


  6. #6

    Join Date
    Jun 2019
    Posts
    3,679

    In retrospect, Luckin's growth and sales figures does seem too good to be true. Something did seem a little fishy there. Ah well, corporate governance has never been something China-based firms are known for.


  7. #7

    Join Date
    Apr 2012
    Location
    Hong Kong
    Posts
    1,212

    It doesn't matter if Chinese or not. Just shows human nature and what sociopath do once they gain power. It's in times of crisis you see who cooked their books.

    Waiting for Wework to collapse now.


  8. #8

    Join Date
    Dec 2002
    Location
    ???
    Posts
    33,186

    And people suddenly want more coffee... for all the right reasons. Reminds me of KPS and Maria coupon runs...

    https://twitter.com/teamlipei/status...84151409999872


  9. #9

    Join Date
    Dec 2002
    Location
    ???
    Posts
    33,186

    Seeing another company being taken down.

    https://twitter.com/YuanTalks/status...10105507291137

    Morrison likes this.

  10. #10

    Join Date
    Jan 2019
    Posts
    494

    ran out of luck


Reply
Page 1 of 4 1 2 3 4 LastLast