Starbucks competitor Luckin sorry for fraud scandal | The Malaysian Insight

A Luckin coffee shop in Beijing, China. By the end of last year, the chain's 4,500 outlets in mainland China surpassed Starbucks' 4,300 stores. – EPA pic, April 5, 2020.

LUCKIN Coffee, China’s biggest rival to Starbucks, apologised today after it revealed a top executive may have faked 2.2 billion yuan worth of sales last year. The company’s former chief operating officer, Liu Jian, and several of his staff have been suspended pending an internal investigation, it said in a US Securities and Exchange Commission filing last week.

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How many Luckins in China? We probably can’t tell what’s true in China.

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