Heralded as the “Starbucks of China,” Luckin Coffee burst onto the scene in 2018 when it opened its first location in Beijing. The Company achieved unicorn status within a year and soon became a Wall Street darling, doubling its valuation to $12 billion just 8 months after it’s IPO. The Company had been growing at a blinding pace and had just become the largest coffee chain in China when the empire began to topple…To hear the full story tune in to Episode 17 on The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.