The (Once-Bankrupt) Chinese Coffee Chain Beating Starbucks.

Luckin Coffee, a Chinese coffee chain, has become the top coffee retailer in China, surpassing Starbucks, despite filing for bankruptcy less than four years ago. The company's success can be attributed to its automated stores, affordable prices, and innovative drinks that cater to local tastes. Luckin's rise was unexpected, as it faced a major accounting scandal in 2020 that led to its stock value plummeting and bankruptcy. However, with the support of Centurium Capital and new leadership, Luckin made a comeback and now operates over 18,000 stores in China. The company's ability to adapt to local preferences and generate buzz through innovative products has contributed to its success. [Extracted from the article]