The Olympics may have been delayed, but we saw a gold medal dive from Luckin Coffee’s shares. Its fraud is a cautionary tale—but about what?
The celebrity CMO is absent from corporate filings and press conferences of the newly public company whose growth he’s credited with jump-starting.
Luckin Coffee is projected to have the largest coffee network in China by the end of 2019 at its current rate of growth.
Chinese consumers have reacted positively to the brand, which positions itself as an alternative to Starbucks.
A web of CAR Inc and UCAR personnel, resources and investors are behind Luckin’s expansion.
More and more fast-growing startups are headed to IPO while hemorrhaging money.