Luckin Coffee Sets Sights on China’s Next Coffee Battleground: The ‘Sinking Market’

Chinese coffee chain giant Luckin Coffee is set to reach 10,000 stores in the first half of this year, becoming the first coffee chain in China to do so, its CEO Guo Jinyi recently revealed. Founded in 2017, Luckin has had a whirlwind few years. Its blockbuster IPO in the United States just 19 months after its founding made it an investor darling, but revelations of accounting fraud forced it to delist in disgrace and enter into bankruptcy just a year later. After such huge twists and turns, many people are curious: How has Luckin brought about its latest reversal in fortune? The answer: selling coffee in China’s smaller cities.

tips

sight：眼力；眼界；景观

set sight on sth：致力于做 sth

whirlwind：旋风（whirl 回旋）

blockbuster：巨型炸弹（buster 庞然大物）

revelation：揭露（reveal 揭示）

fraud：欺诈（来自拉丁语 fraus，欺骗）

delist：退市；除名

disgrace：耻辱（grace，优雅，光彩；graceful 优雅的）

bankruptcy：破产

bankrupt：破产（bank- = bench，长椅；rupt- = break，断裂；长椅断裂，破产了）

twist：螺旋，曲折

twists and turns：波折(固定短语)

reversal：反转；颠倒（reverse 相反）