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

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  1. #1

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    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

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    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.

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  4. #4

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    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.


  5. #5

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    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.


  6. #6

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    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.


  7. #7

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    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


  8. #8

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    Seeing another company being taken down.

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

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  9. #9

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    ran out of luck


  10. #10

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    Morrison likes this.

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