Tim Hortons marks two years in China with Tencent investment

Source: Techcrunch Tim Hortons, the Canadian coffee and doughnut giant, has raised a new funding round for its Chinese venture. Sequoia China leads the investment with participation from Tencent, its digital partner in China, and Eastern Bell Capital. The round comes two years after Tim Hortons made its foray into China’s booming coffee industry. Tim … Read more

Burning Cash Is Strategy of Choice for China’s Starbucks Rival

Source: Bloomberg Luckin Coffee’s plan may be risky approach for selling java IPO raised $561 million; shares surge in first day of trading A customer enters a Luckin Coffee outlet in Beijing.Photographer: Gilles Sabrie/Bloomberg The team behind Luckin Coffee Inc. is betting that what worked for them in car rentals will prove a success with … Read more

In brief: China’s startup Starbucks challenger now valued at $2.9b

Source: TechInAsia China’s Luckin Coffee, a self-declared challenger to Starbucks, has raised US$150 million in its latest round of funding, which values the company at $2.9 billion, reports Reuters today. The investment, US$125 million of which came from a private equity fund managed by BlackRock, follows a US$200 million round in November that had increased the company’s valuation … Read more

Why it’s time to wake up and smell the coffee on Luckin

Source: technode Luckin Coffee, China’s delivery-focused Starbucks rival that opened around 2,000 stores over the past year and a half, is a hell of a dream—a rapidly-growing chain fueled by ambitious venture capital and buy-one-gift-one offers. A little over 15 months from launch, Luckin is preparing for a US IPO with a valuation of around $3 … Read more

I got a laowai (老外) cup

I usually go for a cup of coffee after lunch at Secret Recipe near Zhang Jiang subway station before heading back to the office. Still, given that Secret Recipe was crowded on that day (January 31), I decided to go for a coffee at Starbucks. So far, this does not look unusual to the reader,, … Read more