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The luck stat does not stack and it is the character that triggers the drop whose luck applies to the chest. That said it is beneficial for all players to have their luck stat high as it increases the possibility of a rare drop since any player who triggers the drop in a party will have high luck.
This was pointed out as a little ambiguous, so I sent in another ticket regarding what the "trigger" is. Well, here is the final answer on how to use the LCK stat:
The player who deals the final blow is the player whose luck is applied to the chest.
We hope the information above help to resolve the question you proposed.
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What a twist! No ambiguity at all. It was even sent by the same guy that answered last time. Thanks, Max!
Everyone. It is time you all got your luck equipment on, get your game-faces on, and learn to dodge, because if you want that Valmanway +1 or Muramasa +1, your best chance is to have the entire boss-fighting team wear luck equipment when fighting the boss. This is absolutely clear now.
This is great news I always knew there was so.ething about it now we just have to figure out how to get that specific item we need and how minuscule luck affects the chest plus I've done at least 40 solo runs (internet is down right now im using my phone for this) trying to get acerbatus and I've tried 0 through 3 luck trying to get it and im getting stuff like minerva greaves which is a 4 star item and evens gods garb I've even tried negative luck but this game so hates me no miser rings no sonic boots now +1 anything not even the original alucard sword no ebisu raiment im starting to wonder if ill ever get these items but good job on getting the info for us I was so tired of hearing the luck arguements