Luckin Coffee Sucks Customer Reviews and Feedback
Luckin Coffee Inc. (Chinese: 瑞幸咖啡; pinyin: Ruìxìng Kāfēi) is a Chinese coffee company and coffeehouse chain. It was founded in Beijing in 2017. As of January 2020, it managed 4,507 stores and exceeded the number of Starbucks stores in China. Most of its stores are small "pick-up" locations in office buildings or college campuses that serve for online orders' pickup and delivery. The stock price cratered and several executives were fired when it was discovered that it had been inflating its sales. Luckin Coffee was incorporated in October 2017, and by January 2018 had opened its first shops in Beijing and Shanghai. The company announced the completion of Series A financing to a total of US$200 million in July 2018.
HONG KONG/BEIJING (Reuters) - China’s securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc (LK.O) and sources said some of the banks involved in the Chinese chain’s successful U.S. IPO last year were reviewing their work in the listing.Shares of Luckin, which competes in China with Starbucks Corp (SBUX.O), sank as much as 81% on Thursday in New York after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals.
The company said it had suspended COO Jian Liu and employees reporting to him following initial recommendations from a special committee that was appointed to investigate issues in its financial statements for the fiscal year ended Dec. 31, 2019.
The China Securities Regulatory Commission (CSRC) said on Friday it would investigate the case in line with any international investigation and strongly condemned any financial misconduct.
“Regardless of the listing location, listed companies should strictly abide by laws and regulations in relevant markets, and fulfil obligations to make truthful, accurate and complete disclosures,” the regulator said.
Luckin did not respond to a request for comment on CSRC’s observations.
Barista (Current Employee) says"Working at starbucks seems fun, but they don’t support you. The management is shady and they have terrible covid protocol, they let you work when you’re exposed, and allow you to infect the guests and yoyr coworkers. Cons: Short breaks, Lack of covid protocol"
Shift Supervisor (Former Employee) says"I have lost all my health, mental, dental, vision benefits and my future career I planned with this company I loved. I am considered non-rehireable with no future with the company. This is completely unfair and wrong. I have been severely traumatized and defamed by this company and I am continuing to seek justice and compensation. Cons: Discrimination, Wrongful investigation, singled out, retaliation"
Barista (Former Employee) says"I was underpaid and overworked, this was a very toxic environment. It was constantly stressful and not worth the pay at all. Please for your sanity do not work here."
Barista (Former Employee) says"Malas condiciones laborales y de gestión interna de la empresa"
Barista/Cashier (Former Employee) says"They don’t pay enough to deal with the customers that come in. The pay from barista to supervisor is terrible for three times the work. Training isn’t bad but the normal pay is terrible as well for how much you really do. Cons: Short breaks, low pay, pay:work ratio sucks"
Store Manager (Former Employee) says"Overrated. The company does not care about life balance. The culture is to work hard and not gain any praise or be rewarded. Training is not sufficient. Cons: Life Balance"
Barista/Shift Supervisor (Former Employee) says"The company as a whole cares but the specific location I worked at did not care at all. Very supportive coworkers who were all unpaid and over worked. The store manager is a narcissist. Cons: Everything"
Cashier/Barista (Former Employee) says"If you have fun coworkers then it’ll be good. Horrible pay for how much we have to learn and get treated. Management is always terrible and they are always in a bad mood. Cannot ask for help with out getting yelled at. Cons: bad pay, bad management, bad teaching system."
Barista (Former Employee) says"I unknowingly applied to the busiest store in our city. Worked the morning shift and was always overwhelmed by incoming customers who were never nice. We were constantly understaffed. Cons: Short breaks, low pay, low enthusiasm"
Barista (Former Employee) says"One of the lowest paid F&B company (full-time/part time). Consider working at different F&B, benefits and salary is better. Difficulty to go up the ranks. Cons: Low pay"
Barista (Former Employee) says"Starbucks Euro Garages is the worst place to work at. They don't care for staff or their needs. Rare breaks and made to do back to back sifts sometimes when other staff members dont show (which was frequently). Cons: Everything"
Barista (Current Employee) says"Worked in South Carolina Cons: Under paid/ cut your hours if you get sick to much."
Barista (Former Employee) says"Starbucks is not what you used to know. Low pay. Drinks not made properly. They don’t even freshly brew coffee throughout the day except one medium roast, Pikes Place. A coffee place that fresh coffee ready for you is not a priority. Lazy employees. Sad world when they work so hard from beginning to customer, and customer service ruins the beauty of the delivery. Hire better employees. People who care about the product."
Barista (Former Employee) says"It was the most awful work experience in my life. The management has no idea how to manage and that's a most important problem! They hire too many people giving them 10 hours weekly and making a crazy schedule. So if you have another part time job - it doesn't work. Cons: No time, no money, no dignity"
Barista (Former Employee) says"Very low salary, stressful and no respect from managers or coworkers. No benefits or anything. Treating employees poorly and always. No understanding from manager Cons: No benefit"
Shift Manager (full-time) says"If you’re looking for a company that csres for you, despite the pretty picture they paint for you on the outside, it is horrible. The store managers are horrible, they never take your side at all when it comes to customers. They teain you on de-escalation procedures, and making the moment right, but when you do and the customer is still upset, you get in trouble for it. You’re never appreciated and you’ll always be in the wrong. Cons: Short breaks, don’t have your back, over work you, randomly do hour cuts"
Starbucks Barista Trainer (Current Employee) says"Most stores have workers under the influence and not a good example on the future of selling coffee. I wish people come to work and keep the extra problems elsewhere. Cons: All Females run all the operations supervisor or not!"
Barista/Cashier (Former Employee) says"Terrible work environment hostile coworkers high pressure to be fast had to clean bathrooms hours cut sometimes during your shift very heavy cleaning required end of each shift very clicky Cons: Terrible pay"
Barista (Current Employee) says"This place takes your soul away. The managers are all a mess, and the hours are never reliable. The "benefits" aren't really benefits once you are a partner in the company."
Shift Supervisor/Key Holder (Current Employee) says"overworked and underpaid. this job is not worth it at all. unless you are planning on going to college (ASU), the only real benefit are the free drinks. and after a few weeks you get sick of everything on the menu."
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Sonntag1M says"RT @Cat_Kapow: ???#Chinese #coffee company #luckincoffee delisted #China's Luckin Coffee (LK) tried to rival #Starbucks but resorted to coo…"
catsfromulthar says"RT @Cat_Kapow: ???#Chinese #coffee company #luckincoffee delisted #China's Luckin Coffee (LK) tried to rival #Starbucks but resorted to coo…"
TrustedFintech says"Chinese Regulators Prepare To Crack Down On Luckin Coffee: Regulators in China are preparing to move against once-h… https://t.co/QdQTOOXkvu"
JamesTobyne says"RT @JChengWSJ: China’s Ministry of Finance to U.S. regulators: No need to reprimand erstwhile Starbucks killer Luckin Coffee. We'll punish…"
In The News
TechCrunch reports"Luckin Coffee’s alleged fraud has some silver linings (and even more bad news too)"
The Motley Fool reports"Is Luckin Coffee a Silent Portfolio Killer?"
Bloomberg reports"Luckin Coffee Fraud: Behind Starbucks Competitor's Scandal"
Investorplace.com reports"The Trouble With Luckin Stock Goes Way Beyond Accounting Fraud"