Luckin Coffee, China’s biggest coffee chain, has recently announced its unaudited financial results for the first quarter of 2022. The figures show promise amid the COVID-19 pandemic, but its continued success is still affected by lockdowns and store closures. With a net revenue increase of 89.5 per cent and same-store sales growth of over 40 …
Starbucks announced on Monday, 23 May, that its temporary suspension of operations in Russia, which it had announced in March, is now permanent. In a letter on the Starbucks’ press section of their website, the company stated that it “has made the decision to exit and no longer have a brand presence in the market.” …
A customer of Ditta Artigianale, an Italian cafe, was so outraged at the €2 cost of his espresso that he called the police. The business received a fine of €1,000 after it was determined they didn’t display the price behind the bar. Italians take espresso seriously, which is part of the daily life for millions …
Starbucks CEO Howard Schultz says he is going to make Starbucks an “NFT Business… sometime before the end of this calendar year”. Schultz, who some have likened to the villain in a horror movie that, no matter how many times you shoot him, keeps coming back for one more swipe with the axe, announced the …
SCHULTZ’S NFT STARBUCKS PIVOT IS BOLD AND IGNORANT Read More »
The rapid expansion of Asia’s coffee market has prompted different companies to try their luck to catch the locals’ taste. China, a traditionally tea-drinking country, has seen an increase in coffee consumption as two giants, Luckin Coffee and America’s Starbucks, compete for local coffee drinkers. The companies were actively planning to dominate the Indian market …
TIM HORTONS’ AMBITIOUS PLANS FOR THE INDIAN MARKET Read More »
Howard Shultz is returning to Starbucks as CEO for the third time. Much has changed during his absence, and the first clashes between the new management and workers have already erupted. In the food and beverage sector, workers have been unhappy with their working conditions and salaries for years. As the living costs are going …
STARBUCKS MAY EXPAND BENEFITS THAT EXCLUDE UNIONISED STAFF Read More »
Starbucks’ biggest competitor in the Chinese market, Luckin Coffee, has restructured and stabilised its finances after a massive accounting fraud two years ago. The company announced that it is once again a major player in the Chinese market and set the course for future capital raisings. In 2020, the company was delisted from Nasdaq and …
LUCKIN COFFEE MAKES A COMEBACK IN THE CHINESE MARKET Read More »
Lavazza is a family-owned company established in 1895 and has been one of the leading players in the coffee sector for a long time. It continues to be so as it strengthens its presence in the North American and Asian markets. 2021 was a difficult year for the coffee sector. Droughts in Brazil and heavy …
AFTER A SUCCESSFUL 2021, LAVAZZA GROUP FACES DIFFICULT YEAR AHED Read More »
Bitty & Beau’s Coffee was founded in Wilmington, North Carolina, in 2016 and has already spread beyond the state’s borders. The company’s coffee shops are in 24 cities in 12 states, with the newest one opening in Jacksonville, Florida. But the company has no intention of stopping until there is a coffee shop in every …
BITTY & BEAU’S COFFEE. BUILDING A FUTURE FOR THE DISABLED Read More »
Westrock Coffee Holdings LLC announced it would merge with a special-purpose acquisition company (SPAC). The company is valuing itself at about $1.2 billion. Special-purpose acquisition companies, also known as SPACs, are publicly listed companies that passively hold cash. Their purpose is to acquire private companies, not to trade with ongoing operations. A SPAC exists to …
WESTROCK COFFEE VALUED AT $1.2B AS IT PREPARES TO GO PUBLIC Read More »
Starbucks’ home city of Seattle recently voted to unionise employees at the same time Howard Schultz, the founder of the company’s success and iconic status, was re-appointed CEO after Kevin Johnson left abruptly. During a vote at the National Labor Relations Board, Starbucks employees voted unanimously to unionise in the city where the company is …
STARBUCKS UNANIMOUS VOTE TO UNIONISE IN SEATTLE IS A WAKE UP CALL Read More »
Costa has set itself a target of becoming Net Zero by 2040, which includes the use of 100% renewable gas at its roastery, and improving farming practices. The plan has been approved by the Science-Based Target initiative. 2040 is 10 years earlier than the date set by scientists as the latest to prevent the worst …
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