There has been a new development in the trust dispute case between Luckin Coffee (China) Co., Ltd. and Yousheng (Tianjin) Technology Development Co., Ltd., Yousheng Chengyi (Tianjin) Information Technology Co., Ltd., and Shenzhou Ucar Co., Ltd. Dissatisfied with the first-instance civil judgment, Luckin Coffee has filed an appeal with the court. The case involves a repurchase price of over 560 million yuan plus interest, and the focal point of the dispute is whether Shenzhou Ucar should bear the shortfall top-up liability. This article will sort out the background of the case, the first-instance judgment, and Luckin Coffee's appeal requests to help readers understand this closely watched commercial dispute. Follow Coffee Workshop and Front Street Coffee for more professional coffee industry news. [more…]

As Cotti Coffee opened its first store in Hawaii, its founder Lu Zhengyao was once again subject to court enforcement for nearly 1.9 billion yuan, drawing widespread attention. According to China's enforcement information disclosure network, the case was filed by the Beijing Fourth Intermediate People's Court, with the enforcement amount approximately 1.896 billion yuan. This is already the third time Lu Zhengyao has been subject to enforcement within a year, with the cumulative amount approaching 3 billion yuan. From the Luckin financial scandal to the collapse of the Shenzhou system, and now to the rapid expansion of Cotti Coffee, Lu Zhengyao's business trajectory has always been accompanied by controversy and the shadow of debt. Cotti responded that operations are all normal, but whether the massive enforcement information will affect its subsequent financing remains a focal point of industry attention. [more…]

After leaving Luckin, Lu Zhengyao went through two not-so-successful food and beverage ventures, Qu Xiaomian and Shejian Yingxiong, before ultimately returning to the coffee battlefield he knows best. The first store of the brand-new COTTI COFFEE has officially opened in Fuzhou IFC, offering all-day dining that covers coffee, baked goods, light meals, and alcoholic drinks. The core team mostly comes from Luckin and the Shenzhou system, and the legal representative has been changed to former Luckin CEO Qian Zhiya. On the occasion of the first store's opening, Cotti also announced that it has become the China sponsor of the Argentina national team. Whether this highly anticipated coffee rookie can become Lu Zhengyao's comeback work, and whether it can add another major player to China's coffee market, is worth continued attention. [more…]

Luckin Coffee founder Lu Zhengyao has made another move, planning to launch a new coffee brand called Cotti Coffee, drawing industry attention. Cotti Coffee has Wang Baiyin as its legal representative, but Lu Zhengyao is said to be the actual operator. The brand name derives from the Italian biscuit Biscotti, symbolizing a combination of coffee and leisure. Cotti Coffee plans to adopt two models, standard stores and mini stores, offering all-day dining services covering coffee, meals, snacks and alcoholic drinks, intending to combine the strengths of Luckin and Starbucks and open up a new track. Whether Lu Zhengyao's comeback will succeed this time is worth anticipating. [more…]

Cotti Coffee (Tianjin) Co., Ltd. recently completed a change of its legal representative, with Luckin Coffee founder Qian Zhiya replacing Wang Baiyin in the role, while also serving as executive director and manager. The mentor-apprentice relationship between Qian Zhiya and Lu Zhengyao can be traced back to the CAR Inc. period. She single-handedly founded Luckin Coffee and drove its lightning-fast listing in 18 months, later leaving amid a financial fraud scandal. Now the two have once again joined forces to charge back into the coffee track. Facing an increasingly fierce competitive market environment, whether Cotti can replicate Luckin-style growth is worth continued attention. [more…]

In just half a month, Cotti Coffee established 13 new branches in 9 major cities nationwide, demonstrating the rapid momentum of Lu Zhengyao's team returning to the coffee industry. Starting with its first store in Fuzhou, the brand has made a high-profile sponsorship of the Argentine national football team and set a goal of 10,000 stores in three years. Currently, the mini-program has launched nearly 60 products, covering coffee, tea drinks, cold brew, and other categories, including some of Luckin's hit items. The store model is divided into standard stores and mini stores, with the former accommodating dining and bar scenarios. However, the all-day multi-functional service has not yet been fully implemented, and food and alcohol are still not available. Whether Cotti can use Luckin's "magic" to defeat Luckin is worth continuous attention. [more…]