Host Andrew Berkowitz breaks down the recent drama surrounding the rapid rise and fall of Chinese coffee startup Luckin Coffee from it’s founding 3.5 years ago through it’s widely successful IPO and eventual collapse on April 2, 2020 when Luckin disclosed that an internal probe found that its chief operating officer had fabricated 2019 sales by about 2.2 billion yuan ($310 million). Additionally, Andrew discusses the next in line to become Asia’s coffee unicorn and most serious competitor to Starbucks in the region, Indonesia’s Kopi Kenangan.
“The first paragraph of this report says, when Luckin Coffee went public in May 2019 it was a fundamentally broken business, that was attempting to instill the culture of drinking coffee through cutthroat discounts and free coffee giveaways”Andrew Berkowitz
On this episode, you’ll learn:
- Luckin Coffee’s initial rapid growth and expansion throughout Middle East and Asia [2:00]
- What were the fraud allegations made by Muddy Waters Research again Luckin? [3:59]
- Who is Asia’s next coffee startup most likely to become a regional powerhouse and compete with Starbucks? [9:55]
Recorded in partnership with
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