Chinese milk tea chain Chagee enters Vietnam
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Chagee, one of the largest milk tea brands in China, has expanded into Vietnam and will soon launch its first store there.
On Monday, its official Facebook page shared a poster saying “Hello Vietnam” with a caption that read: “Vietnam, let’s get ready for some exciting things ahead! Chagee will bring you refreshing moments and new experiences. Stay tuned!”
A post on its Facebook recruitment page also confirmed that it is officially present in the market and is looking for staff for its expansion.
On Chagee Vietnam’s LinkedIn profile, the brand said in a comment that its first store “will be launching very soon.”
Founded in Yunnan, China, in 2017, Chagee markets itself as the “Eastern Starbucks,” aiming to challenge the dominance of the U.S. coffee giant, according to KrAsia.
The brand has rapidly grown across Asia Pacific, establishing a presence in Malaysia, Singapore, and Thailand, with a global network exceeding 6,000 stores.
Focused on raw-leaf fresh milk tea, Chagee blends traditional tea culture with modern innovation to appeal to contemporary consumers, as stated on its website.
It recorded sales of 10.8 billion yuan (US$1.48 billion) in China in 2023 and 5.8 billion yuan in the first quarter of 2024.
Questions & Answers
Q.What is Chagee's stated ambition for its brand?
What is Chagee's stated ambition for its brand?
Chagee markets itself as the "Eastern Starbucks." Its stated ambition is to challenge the dominance of the U.S. Coffee giant in the market.
Q.Where has Chagee already established a presence in Asia Pacific?
Where has Chagee already established a presence in Asia Pacific?
Chagee has already established a presence in Malaysia, Singapore, and Thailand. This indicates its broader regional expansion strategy beyond its home market.
Q.What kind of products does Chagee focus on?
What kind of products does Chagee focus on?
Chagee focuses on raw-leaf fresh milk tea. It aims to appeal to contemporary consumers by blending traditional tea culture with modern innovation.
Q.What were Chagee's sales figures in China for 2023 and early 2024?
What were Chagee's sales figures in China for 2023 and early 2024?
Chagee recorded sales of 10.8 billion yuan in China in 2023. For the first quarter of 2024, its sales in China reached 5.8 billion yuan.