In the business world, integrity is the foundation of a business. However, some companies have deviated from this principle for various reasons and have become what people call "old friends". The day before yesterday (January 8, 2024), Lu Zhengyao, the founder of Luckin Coffee, was executed for 7.8178 million yuan. The incident has attracted widespread attention, and it has also caused people to think deeply about the behavior of the old lai.
According to Baidu Encyclopedia, Luckin Coffee, which opened its first coffee shop in 2017 and is headquartered in Xiamen, is the largest coffee chain in China. Luckin Coffee's brand vision is "to let every customer easily enjoy a cup of good coffee that can be drunk and worth drinking", and the brand mission is to "create a world-class coffee brand originating from China", through the new retail model of making full use of mobile Internet and big data technology, and in-depth cooperation with top suppliers in various fields, we are committed to providing customers with high-quality, cost-effective and convenient products.
According to reports, the coffee beans of Luckin Coffee have won the gold medal in the IIAC International Coffee Tasting Competition for two consecutive years. On March 16, 2021, Luckin Coffee announced on its official website that the company had entered into a restructuring support agreement with the majority of holders of a total of US$460 million (converted into approximately RMB 3.275 billion) convertible senior bonds due in 2025 to fulfill the debt obligations in the agreement. Luckin Coffee expects to provide compensation of approximately 91%-96% of the face value of the notes to the existing noteholders of the restructured note. On April 11, 2022, Luckin Coffee announced that it had completed its debt restructuring and officially ended the bankruptcy protection process as a debtor.
Luckin Coffee is a once-high-profile coffee brand that has won the love of consumers with its rapid expansion and convenient consumption experience. However, behind all this lies an untold secret. The founder of Luckin Coffee was charged with financial fraud, fraud, and other crimes, and the sentence was finally executed. This incident not only dealt a serious blow to the brand image of Luckin Coffee, but also made people deeply disgusted with the old behavior.
Bad behavior is an irresponsible behavior, which not only damages the image and reputation of the enterprise, but also reduces the trust of consumers in the enterprise. In the business world, integrity is the most basic business ethics, and companies should always adhere to this principle. If a company deviates from integrity, it will lose the trust and support of consumers and eventually go into decline.
The execution of the founder of Luckin Coffee shows us the harm of the old man's behavior. As a business, we should always uphold the principle of integrity and put the interests of consumers first. If companies deviate from integrity in pursuit of short-term profits, they will only end up reaping the consequences. At the same time, consumers should also remain vigilant and choose trustworthy brands and businesses to avoid being victimized by cheating practices.
In addition to businesses, individuals should also take precautions. In life, we often encounter some people who do not keep their promises, they are untrustworthy and go back on their word, which makes people untrustworthy. We should be vigilant about these people and avoid being deceived by them. At the same time, we ourselves should also be honest and trustworthy.
In conclusion, integrity is the cornerstone of the business world, and businesses should always adhere to this principle. We should be vigilant about bad practices and choose trustworthy brands and businesses. At the same time, individuals should also be honest and trustworthy. Only in this way can we work together to create an honest, fair and transparent business environment.
(ENDS)