Starbucks rival Luckin Coffee faked nearly half of its roughly $732 million in sales, according to an internal investigation that found the Chinese coffee giant's COO fabricated orders
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The preliminary investigation found that almost half of the company's roughly $732 million in sales last year had been fabricated by Luckin COO Jian Liu. Visit Business Insider's homepage for more storiesLuckin Coffee fabricated hundreds of millions of dollars worth of coffee orders last year, according to an internal investigation.
Based on its falsified financials, Luckin Coffee was expected to generate $732 million in sales in 2019, according toIn other words, the fabricated transactions appear to have made up almost half of the chain's sales in 2019.
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