China’s Luckin Coffee looks to break even
Beijing – Luckin Coffee (LK.O) turned in a bigger-than-expected loss as costs ballooned on store openings and heavy discounts aimed at competing with Starbucks (SBUX.O), driving the Chinese firm’s U.S.-listed stock down sharply on Wednesday. The startup, which opened its … Continue reading China’s Luckin Coffee looks to break even
Luckin Coffee chief asks banks for $200 million loan
Hong Kong – Chinese startup Luckin Coffee’s chairman is seeking a loan of at least $200 million from banks including Goldman Sachs and Morgan Stanley under a deal that would award them mandates in the firm’s planned U.S. IPO, people … Continue reading Luckin Coffee chief asks banks for $200 million loan