Lu Zhengyao, a trailblazing Chinese entrepreneur, has left an indelible mark on industries ranging from mobility to coffee. Known for his bold strategies and resilience, Lu’s career spans iconic ventures like 神州租车 (CAR Inc.) and 瑞幸咖啡 (Luckin Coffee), as well as his latest endeavor, 库迪咖啡 (Cotti Coffee). This article delves into his journey, business philosophy, and enduring impact, optimized for SEO with keywords like “Lu Zhengyao career,” “Cotti Coffee founder,” and “China coffee industry leader.”
1. Early Life and Foundational Years
Born in 1969 in Fujian Province, Lu Zhengyao displayed an entrepreneurial spirit from an early age. After graduating from Xiamen University with a degree in economics, he honed his business acumen at a foreign-owned enterprise before launching his first venture in 2000 . His early forays into telecommunications and VoIP services laid the groundwork for his future success, but it was his pivot to the automotive sector that catapulted him to prominence.
神州租车 (CAR Inc.): Revolutionizing Mobility
In 2007, Lu founded 神州租车 (CAR Inc.), leveraging China’s growing middle class and rising demand for flexible transportation. By integrating online platforms with physical operations, he transformed car rentals into a mainstream service. Key milestones include:
- Market Dominance: CAR Inc. became China’s largest car rental company, with over 1,000 locations nationwide by 2014 .
- IPO Success: The company’s 2014 NYSE listing solidified its position as a leader in the shared mobility space.
- Strategic Vision: Lu pioneered concepts like “shared mobility” and “user-centric” operations, setting benchmarks for the industry .
However, challenges emerged in 2019, including declining stock prices and management scrutiny, prompting Lu to step back from day-to-day operations while retaining strategic influence .
2. 瑞幸咖啡 (Luckin Coffee): The Rise and Fall of a Coffee Giant
Lu’s most iconic venture began in 2017 when he co-founded 瑞幸咖啡 (Luckin Coffee) with a mission to disrupt China’s coffee market. Fueled by aggressive expansion and digital innovation, Luckin became a household name:
- Rapid Growth: The brand surpassed 5,000 stores in just 18 months, challenging Starbucks’ dominance through 9.9 RMB ($1.40) coffee and app-driven ordering .
- IPO Milestone: In 2019, Luckin went public on the Nasdaq, valuing the company at $4.2 billion.
The Financial Scandal and Aftermath
In 2020, Luckin shocked the world with a $2.2 billion accounting fraud scandal, leading to Lu’s resignation as chairman. The crisis highlighted corporate governance issues and shook investor confidence in Chinese tech stocks . Despite the fallout, Luckin later rebounded under new leadership, achieving profitability by 2023 with over 20,000 stores .
Lu’s role in the scandal remains controversial. While he publicly apologized and stepped down, legal battles persisted, including multiple court cases over financial obligations .
3. 库迪咖啡 (Cotti Coffee): A Second Act in Coffee
Undeterred by adversity, Lu returned to the coffee sector in 2022 with 库迪咖啡 (Cotti Coffee), aiming to replicate Luckin’s success while avoiding past pitfalls. Key strategies include:
- Aggressive Expansion: Cotti aims to open 50,000 stores by 2025, leveraging a hybrid model of standalone shops and “store-in-store” partnerships with convenience chains like 美宜佳 (MegaMart) .
- Product Innovation: The brand 推出融合亚洲风味的饮品，such as “Coconut Latte” and “Matcha Oat Latte,” while maintaining a 9.9 RMB ($1.40) price point to attract price-sensitive consumers .
- Sustainability and Local Partnerships: In 2025, Cotti partnered with 临沧市政府 (Lincang City) to develop coffee plantations and boost rural economies, aligning with China’s 乡村振兴 (Rural Revitalization) initiative .
By 2024, Cotti achieved profitability, driven by its convenience store-like model offering coffee, snacks, and ready meals .
4. Other Ventures and Strategic Shifts
预制菜 (Ready-to-Eat Meals): A Brief Detour
In 2022, Lu explored the 预制菜 (ready-to-eat meal) market with 舌尖工坊 (Shejian Gongfang), targeting busy urban consumers. However, the venture faced challenges due to high operational costs and low consumer adoption, leading to store closures and a pivot back to coffee .
数字化与供应链革新
Throughout his career, Lu emphasized data-driven operations and supply chain optimization. For example, Cotti’s 安徽供应链基地 (Anhui Supply Chain Hub) integrates coffee roasting, food processing, and packaging, reducing costs by 20-30% .
5. Leadership and Legacy
Lu Zhengyao’s career is defined by risk-taking and adaptability:
- 争议与韧性 (Controversy and Resilience): Despite the Luckin scandal, Lu remains a prominent figure, admired for his ability to bounce back and redefine industries.
- 行业颠覆者 (Industry Disruptor): His focus on affordability, convenience, and technology has reshaped sectors from mobility to coffee.
- 全球化野心 (Global Ambitions): Cotti Coffee plans to expand internationally, targeting Southeast Asia and Europe, leveraging Lu’s reputation as a serial entrepreneur .
Conclusion: A Visionary’s Enduring Impact
Lu Zhengyao’s career is a microcosm of China’s economic evolution—marked by innovation, setbacks, and relentless reinvention. From revolutionizing car rentals to redefining coffee consumption, his ventures reflect a deep understanding of market dynamics and consumer needs. As Cotti Coffee scales globally, Lu’s legacy continues to inspire entrepreneurs, proving that resilience and adaptability are the keys to enduring success in China’s competitive business landscape.
Explore China’s coffee revolution with our Yunnan Coffee Trail or discover Cotti Coffee’s latest offerings on Taobao. ☕
数据来源:
- 陆正耀官方履历 (Lu Zhengyao’s official biography)
- 库迪咖啡战略公告 (Cotti Coffee strategic announcements)
- 《中国咖啡产业白皮书》(China Coffee Industry White Paper)
