When it comes to cutting leeks, you must hate it.
When it comes to cutting American leeks, you probably don't care.
When it comes to bringing you to cut American leeks with you, you must be eager to try and rejoice.
There is such a listed company, financial fraud, sales fraud, but by bringing Chinese to cut the United States leeks together, it has become the most conscientious national enterprise and the most patriotic national brand.
This is Luckin Coffee.
First, luckin cut the whole process of American leeks
Talk about how Luckin cut American leeks, as an old leek, you must be able to smell the familiar taste, the original recipe.
Luckin is a company that is the Nasdaq of the United States that american investors cry and beg.
What's going on?
Simply put, Luckin painted a huge and very attractive "cake" for americans.
This "cake" is called Chinese a cup of Luckin's "cake" a day.
This pie is big enough and fragrant! In the hottest years of venture capital, there was a popular script: star founders told stories - financing - burned money to expand - went public - cashed out. One of the keys is "fast".
On May 17, 2019, Luckin Coffee landed on the NASDAQ in the United States, raising 695 million US dollars, equivalent to nearly 5 billion yuan.
From the opening of the first store of Beijing Galaxy Soho to the listing in the United States, Luckin took only 18 months. Keep in mind the world's fastest IPO record, which will be used below.
After the listing, Luckin has indeed quickly opened up the Chinese market as investors thought.
It's just that their posture of opening the market is a bit charming.
Other brands open the market, do advertising, invite celebrities, engage in publicity, and then burn money to engage in offline activities.
And luckin's way of opening the market is simple and rude, two words can be summed up - burning money.
If Luckin is an innovative enterprise, the biggest innovation is to burn money.
Burning money desperately regardless of the cost, in terms of the pattern and speed of burning money, basically belongs to the height of the space.
Luckin also asks celebrities to do publicity and promotion, but it is not in a hurry to collect funds.
Instead, it's like crazy free coffee, and plenty of 1.2% off coupons.
The number of coupons issued is so frequent that it almost does not pull a banner on the APP
It reads: If you dare to buy a cup of coffee at the original price, I will hack myself to death!
Indeed, it did not live up to the expectations of American leeks, during the trial operation in 2018 alone, Luckin Coffee sold more than 5 million cups of coffee, with more than 1.3 million users.
Most importantly, in 2018, Luckin lost 1.6 billion!
Cultivating such a large and loyal customer base, according to the conventional business philosophy, will definitely bring several times or even more than ten times the profit in the future.
Just like the practice of a certain drop, the money you have for a free taxi in the early stage will make you double the money in the later stage.
Here, let's review another company model: Didi Dache.
Enter the market crazy subsidy - occupy the market - consumers form a habit - cancel the subsidy - charge commissions of up to 20% to 25%.
Personal comprehensive feeling down Luckin coffee is also a copy of the model of Didi taxi, Didi with the help of other people's cars to make money, Luckin opened its own physical store, Didi burned money subsidies accounted for the market, Ruixin's own store subsidies accounted for the market, buy 2 get 2 free, buy 5 get 5 free 5.Let customers form consumption habits.................. Almost completely copied the way online ride-hailing cars attacked the market - a large number of burn-in subsidies.
Online and offline, big data, viral spread. Pulling new, fissioning, traffic, new retail... Luckin Coffee brings together a lot of dazzling Internet and new economy labels.
It seems that the common methodology of Internet marketing has been redone and deduced.
Many American capitalists think the same way.
However, Ruixing rounded his arm at this time, giving everyone who thought so, a crisp and loud big ear scraper.
In 2019, luckin coffee net loss of 3.16 billion yuan, an increase of 95.2% year-on-year!
Of course, the net revenue for the entire 2019 was 3.025 billion yuan, an increase of 260% year-on-year.
Considering the previous burning speed of Luckin, this is already an extremely huge progress, almost upgraded from selling 1 to 2 to selling 2 to 3 levels.
With the support of funds, there are naturally countless vouchers to Chinese consumers, and as soon as sales go up, American capitalists are happier, and the steady stream of financing comes more.
This is simply a textbook leek cutting technique.
After the earnings report, the stock price rose by 13%, and the capitalist leeks exclaimed, Buy Buy Buy.
Won't such a high-profile burning of money be detected by capital?
Of course, but Luckin cleverly avoided the risk
They came up with a concept called "strategic loss", which is called long-term fishing for big fish in our Chinese language.
Of course, there are also people who understand in American leeks. On January 31, 2020, Muddy Water Research, a well-known short-selling agency, released a report saying that Luckin Coffee had problems with falsification and fraud in operating data.
They sent 92 full-time and 1418 part-time investigators to more than 900 Luckin coffee stores across the country, conducted more than 10,000 hours of store video recordings, collected more than 25,000 small tickets, relying on this stupid method to manually calculate cups of coffee, and finally came to the third quarter of 2019, luckin coffee inflated sales by 69% per day, increased by 88% in the fourth quarter, and the number of single orders and the sales price of goods could not match.
In the face of such a hammer, Ruixing could not argue even if he wanted to argue.
Luckin Coffee looked at it, I didn't pretend, the showdown was over.
Luckin immediately "exposed" financial fraud of 2.2 billion yuan.
The news fermented, Luckin U.S. stocks broke down 5 times in the intraday, and finally fell 75.5%, and the market value evaporated by $5 billion overnight.
The whole Luckin from its establishment to the listing, is burning with capital and American leek money.
Behind every cup of Luckin coffee you drink is the blood and tears of American leeks.
Taking money from Western leeks and inviting us to coffee is really not capitalism, this is the spirit of internationalism.
Drinking Ruixing is equivalent to indirectly attacking the United States, and this surging national pride is simply higher than Moutai's sauce technology.
Patriotic masses have said that in order to support the fight against the United States, fat can not be reduced, sugar can not be quit, must be vigorously used coupons, with large coupons, Ruixing must be open to drink.
Only when the leeks are part, can participate in the transnational harvesting of American leeks, that feeling, it is really refreshing!
Subsequently, Luckin was asked to delist from the NASDAQ in May 2020, and in June, Luckin officially suspended trading.
In this way, Luckin has created a record for the fastest delisting of Nasdaq China company, from listing to delisting, 13 months, which is the delisting speed of Luckin Coffee.
One on top and one back, set two fastest records, and there is no one left.
Second, Ruixing's whole journey of resurrection from the dead
On May 24, 2022, Luckin Coffee announced its financial results for the first quarter of 2022. According to the report, Luckin's revenue was 24 billion yuan, an increase of 89.5% year-on-year.
The key is that the net profit turned from negative to positive to 19.8 million yuan, compared with a loss of 230 million yuan in the same period last year.
At this time node, this profit, what happened to Luckin after harvesting American leeks?
How to say it, Luckin is not innovating in the burning money, but began to innovate in products.
In the fall of 2020, Luckin launched a new "velvet latte". Only 9 days after going online, it exceeded 2.7 million cup sales and became a new "hit".
In April 2021, another product, "Coconut Cloud Latte", took over the baton, and on the first day, the total sales of Coconut Cloud Latte were more than 660,000 cups.
In 2020, Luckin launched a total of 77 new ready-made drinks throughout the year, and a total of 113 new ready-made drinks were launched in 2021.
In two years, a new product is launched in an average of 7 days.
It seems that in addition to the fastest record of delisting, Luckin also wants to create a record for the speed of launching new products.
And the blockbusters in each quarter have not failed to live up to Luckin.
The "raw coconut latte" launched in 2021 has become a real hit, as of April 6 this year, the cumulative sales of raw coconut lattes have exceeded 100 million cups, and even coconut water is in short supply.
Luckin's product logic, "frequent explosions" has gradually become a moat.
In the first quarter of this year, Luckin was even more "betting" on the top of the Winter Olympics, with the help of the Winter Olympics will be the spokesperson of the same drink "blue velvet snow latte" and other marketing out of the circle.
The most important point of Luckin's innovation lies in the "coffee milk tea". In China, the strange and bitter taste of coffee is difficult to be accepted by the public. Luckin uses a lot of syrup, milk, milk cap, coconut milk, etc. to neutralize the bitterness of coffee, and has a mild taste between coffee and milk tea.
Starbucks, the most important item is also a latte mixed with milk.
Luckin's half foot is on the coffee track, and the other half foot is on the milk tea track.
In addition to innovation, Luckin can survive, mainly relying on expansion to cultivate users did not choose to abandon Luckin, they gave Luckin time to breathe.
At the same time, in the impact of the fight against the epidemic, Luckin's store location strategy has alleviated the operational difficulties caused by the epidemic lockdown to a certain extent.
A large part of Luckin's self-operated store structure is opened in nearly closed scenes such as office buildings and universities, which has a natural anti-risk nature to the epidemic.
In January this year, foreign media reported that Luckin Coffee was considering re-listing on the NASDAQ, possibly as early as the end of this year. Luckin later denied this.
In May, it was reported that Luckin Coffee's management was considering re-listing, choosing Hong Kong, China.
Although Luckin is still much cheaper than Starbucks, it can no longer be "ten dollars a cup of Rena ice" as before, and now orders are placed, and the price of most single products exceeds 13 yuan.
Even if it is re-listed, Luckin will no longer be the one who cuts American leeks and invites you to drink cheap coffee.
However, free is the most expensive, is not free is not better?