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What’s New

THINGS YOU SHOULD KNOW

Replacing the Top Spot

The action started in April when a story broke that
Luckin, which was founded and run by Lu, had fabricated
$300 million in sales for its 3,680 stores in 2019. Luckin
was delisted from NASDAQ as the drama unfolded, and Lu 1 Spanish producer of a chocolate drink, ColaCao 4 Ocean Spray Cranberries Inc. is the latest CPG
was investigated for fraud. The company was reinstated on pays tribute to all the professionals who continued to company to invest in the cannabidiol product space,
the NASDAQ and then again delisted again, and Luckin's give their best during the COVID-19 pandemic on their launching a new line of CBD-infused sparkling waters
board tried to oust Lu as chairman. An internal investigation packaging with a big “Thank you” (“Gracias”), and will dedicate branded CarryOn. The brand is primarily focused on the
found that Lu was either directly responsible for or at least revenue from sales to the Federation of Food Banks of Spain. positive effects CBD might have on mental health.
knew about the fraudulent activity. Lu was forced out
along with four other executives, and the company
Nestlé Partners with announced in a filing that Jinyi Guo, who has been acting
CEO, will take the permanent spot and also become
Rainforest Alliance to chairman. Guo had previously been in charge of product
Trace Coffee Beans and supply chain.

Nestlé has added its Zoégas coffee brand to the IBM 2 UAE firm Al Barakah Dates will be launching its 5 US-based Arctic Zero has expanded its line of low-
Food Trust blockchain and partnered with the Rainforest date-based sugar in retail packs this month, after its calorie, non-dairy frozen desserts with the launch
Alliance to bolster the coffee’s data traceability. The food initial launch to B2B customers. The sugar is low in of two new flavours. Classic Vanilla and Pistachio
giant first announced the news in a blog post. It will add QR GI and seeks to tap into consumer demand for healthier and join Arctic Zero’s range of plant-based frozen desserts made
codes to Zoégas’ “Summer 2020” coffee product packaging, natural alternatives to refined sugars. with fava bean protein.
sold in Sweden. When scanned, these codes will show
consumers their beans’ journey from harvest to shelf, with
documentation stored on IBM’s food tracing blockchain.
Rainforest Alliance has experience tracing coffee
products with blockchain systems as a client of the supply
chain software firm ChainPoint. Nestlé’s previous Northern
European blockchain product pilots make it confident that
Zoégas will “resonate” with the Swedes, the spokesperson
said. Blockchain traceable coffee is a marketing trend being
seen across the coffee industry, and the world. Starbucks is 3 PepsiCo Inc. announced it will retire the Aunt Jemima 6 Ritual Beverage Company, the NA spirits brand has
working with Microsoft’s Azure blockchain to bring its brand due to its origins in racist imagery. The image of launched an alcohol-free tequila. The tequila joins
consumers “farm to cup” information, as is Medici ventures- a black woman will be removed from the brand’s the brand’s current product offerings of zero-proof
backed GrainChain, and IBM, which in January debuted a pancake mixes, syrups and other products. A new name will be gin and whiskey. Ritual’s non-alcoholic tequila will replace
coffee tracing app. announced following the first phase of packaging changes. base alcohol in Palomas, Margaritas and beyond.

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