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Founded in August 2022 by former Luckin Coffee executives Lu Zhengya and Qian Zhiya, Cotti Coffee (库迪咖啡) has experienced rapid growth. As of May 2024, it had the third-highest number of coffee shops, with 6,505 stores, following Starbucks with 7,102 stores and Luckin Coffee with 18,360 stores. Despite its meteoric rise and the growing number of coffee consumers in China, questions remain about whether its success can be sustained in the long run. A new chapter: Founders of Luckin Coffee fall and then return with Cotti Coffee Luckin Coffee, founded by Lu and Qian in 2017, witnessed rapid growth, getting listed on the US stock exchange within just two years. Moreover, by the end of 2019, it opened 4,507 stores , surpassing Starbucks. However, this triumph was soon overshadowed by a January 2020 accounting scandal, when a prominent short-selling firm accused it of financial misconduct. Luckin later admitted to the wrongdoing and was subsequently delisted from the US stock ex
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