Luckin Coffee: Rise after fall from accounting fraud

By Jennifer Lynch (February 2, 2023, 2:22 PM EST) -- Luckin Coffee was founded by Charles Lu and Jenny Qian in 2017. Luckin Coffee is a coffeehouse chain that operates stores and kiosks that offer coffee, tea and food. The company experienced rapid growth since the beginning and quickly became the largest coffee chain in China in only a few years. Its growth surpassed Starbucks, and by 2019, Luckin Coffee outnumbered Starbucks outlets in China. In 2019, Luckin Coffee raised $561 million for its initial public offering....