Recent events
Recent events tied to this brand in public sources.
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2020
Luckin Coffee store removed from Changsha shopping center
A Luckin Coffee store at Gao Sheng Times Square in Changsha had recently removed its store fixtures and was empty.
2020
China Securities Regulatory Commission reportedly investigates Luckin Coffee
The article reports that the China Securities Regulatory Commission had dispatched an investigation team to Luckin Coffee amid the company's financial-fraud scandal. The report does not establish a final regulatory determination.
2020
Luckin Coffee acknowledges fictitious transactions
After short seller Muddy Waters said it had received an anonymous report alleging that Luckin Coffee fabricated financial and operating data, Luckin Coffee issued an announcement acknowledging 2.2 billion yuan in fictitious transactions.
2020
Luckin Coffee apologised over sales fraud
Luckin Coffee apologised after disclosing that sales had been fabricated. The company said it had suspended executives pending an internal investigation and set up a special committee and third-party investigation.
2020
Luckin Coffee discloses inflated revenue
Luckin Coffee disclosed that it had inflated revenue by 22 billion yuan, prompting investor losses and potential allegations of financial fraud and false statements.
2020
Luckin Coffee discloses preliminary findings of internal investigation
Luckin Coffee disclosed preliminary internal-investigation information indicating that approximately RMB 2.2 billion in sales from the second through fourth quarters of 2019 involved fabricated transactions, and that certain costs and expenses were also inflated. The figures had not been independently verified and could change as the investigation continued. The company said its board accepted the special committee's recommendations and implemented measures including suspending individuals and stopping contracts and transactions with parties linked to the identified fabricated transactions.
2020
Luckin Coffee board initiated investigation into potential revenue inflation
Luckin Coffee's board announced an internal investigation into former COO Jian Liu's activities; an early estimate indicated he may have inflated company revenues by more than $300 million.
2020
Luckin Coffee announces strategic partnership with LINE FRIENDS
Luckin Coffee announced a planned strategic partnership with LINE FRIENDS to develop co-branded food and lifestyle products and create offline themed stores.
2020
Luckin Coffee establishes a discount mall in its app and mini program
Luckin Coffee established a discount mall in its app and mini program, offering coffee-related goods and other products including electronics and household items.
2020
Luckin Coffee and Healthy.io ranked among Fast Company's most innovative companies
Fast Company published its 2020 list of the world's 50 most innovative companies, ranking Luckin Coffee 17th and Healthy.io 48th.
2020
Luckin Coffee and China Mobile launch coffee offer
Luckin Coffee and China Mobile jointly announced a card sign-up promotion offering free coffee, with up to eight cups available on the Luckin Coffee-branded Treasure Card.
2020
Luckin Coffee responds to Muddy Waters report
Luckin Coffee denied the allegations in a Muddy Waters short-selling report, disputed its data and methodology, and said it had reviewed and cross-checked its disclosed advertising expenses. The company said it planned to take appropriate measures to protect shareholders.
2020
Luckin Coffee responds to short-seller report
Luckin Coffee responded to allegations in an anonymous report published on January 31, 2020, denying them and asserting that the report's claims were misleading and lacked a factual basis. The supplied source reports the allegations and the company's response; it does not establish a determination of their truth.
2020
Luckin Coffee announces planned share offering and convertible bond issuance
Luckin Coffee disclosed in an SEC filing that it planned to issue 12 million ADSs and announced a $400 million convertible bond offering. The source describes these as planned issuances, not completed transactions.
2020
Luckin Coffee announces entry into unmanned retail
Luckin Coffee announced that it was entering the intelligent unmanned retail sector.
2020
Luckin Coffee launches two unattended retail machines
Luckin Coffee announced the launch of two unattended retail machines: Luckin Coffee EXPRESS and Luckin popMINI. The machines offer coffee and other goods, and the article reports that locations were already displayed in the Luckin app.
2020
Luckin Coffee closed 1,021 company-owned stores
A debt-restructuring progress report said Luckin Coffee closed 1,021 company-owned stores in the first 11 months of 2020.
2019
Yipay signs cooperation agreements with more than 20 partners
Yipay and more than 20 partners signed cooperation agreements covering UnionPay cooperation, inclusive finance, a benefits alliance, and technology cooperation.
2019
Luckin Coffee reports third-quarter 2019 results
Luckin Coffee reported third-quarter results, including revenue of RMB 1.542 billion, up 540.2% year over year, and a net loss of RMB 532 million. Its store-level results showed a profit of RMB 186 million, excluding marketing expenses.