source: https://thefinance.sg/2024/07/25/the-recipe-for-luckin-coffees-remarkable-turnaround/
In 2019, Luckin Coffee burst onto the international stage with its listing on the Nasdaq, swiftly earning the moniker ‘the Starbucks of China’. The company was overhyped, and its rapid growth and aggressive expansion captivated investors. In a short period, Luckin Coffee’s growth seemed poised to surpass Starbucks in China. However, this euphoria was short-lived. […]