Here's your summary from How Luckin Coffee Bounced Back and Beat Starbucks in China (https://www.youtube.com/watch?v=lZHioh_2hDw) on the Bloomberg Television channel:

**TLDR:** Luckin Coffee bounced back from a major fraud scandal, expanded rapidly in China, and engaged in a price war with Starbucks.

1. Luckin Coffee, once bankrupt, overtook Starbucks in China with a lean business model and focus on local tastes.

2. The company bounced back from a $300 million sales fabrication scandal and leveraged its takeout and delivery model during the pandemic.

3. A price war has erupted in China's coffee market, with Luckin offering cups for less than $1 and competing brands following suit.

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