Aiko TanakaFood
Chagee Second Quarter Profit Jumps to $68.5 Million as Overseas Sales Surge
Operating profit rose nearly fourfold to RMB524.7 million as the Chinese teahouse operator cut costs and pushed beyond Greater China.
Tag
milk tea
Every story tagged milk tea on RetailNews Asia: reporting, analysis and market signals from across Asian retail and e-commerce.
Stories tagged milk tea
11 stories in this topic
Minjun ParkFood
Chinese Milk Tea Titans Embark on Global Conquest: Expanding Across US and South Korea Amid Southeast Asia Saturation
Chinese milk tea brands are broadening their horizons and expanding into new markets in Asia and the West. These brands have traditionally focused on Southeast Asia as their primary area for foreign expansion. However, with the market becoming overcrowded,…
Sarah ChenFood
Gong Cha Exits Singapore Market After Franchise Agreement Ends; Plans For A Revamped Return Underway
Taiwan’s popular milk tea brand, Gong Cha, has ceased operations and shuttered all its outlets island-wide as of October 1. This move follows the expiration of its franchise agreement with Gong Cha Singapore, which has been running the brand’s operations…
Sarah ChenFood
Chagee sees double-digit revenue growth in first quarter
Chagee, a renowned Chinese milk tea chain, has reported a significant increase in its net revenues for the first quarter of this year. The figure soared to RMB3.39 billion (US$467.5 million), marking a robust growth of 35.4 per cent compared to the equivalent…
Minjun ParkFood
Chagee faces boycott ahead of Vietnam opening
Chinese milk tea brand Chagee is facing criticism for apparently adopting the ‘nine-dash line’ in its digital app while it prepares to launch in Vietnam. According to local reports, Vietnamese customers are calling for a boycott of Chagee after learning that…
Aiko TanakaFood
Chinese milk tea chain Chagee enters Vietnam
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…
Maria SantosFood
Vietnam pho, milk tea franchised for first time in Philippines
The famous noodles dish pho has been franchised for the first time in the Philippines along with milk tea and spa services by three Vietnam’s companies. Pho’S, Phuc Tea and Care With Love have signed franchise contracts with Philippine businesses through the…
Minjun ParkFood
Milk tea on flights fetches Noibai Catering Services rising revenues
Airline catering company Noibai Catering Services earned revenues of nearly VND22 billion ($936,947) from selling milk tea last year, over 63% of it from sales aboard flights. According to its annual report, the company put milk tea on flight menus in July…
Wei ZhangFood
Taiwanese milk-tea brand CoCo continues rapid Philippines expansion
Taiwanese milk-tea brand CoCo Fresh Tea & Juice is slated to open its third store in Cebu City, Philippines in 2020. CoCo debuted in the urbanized city in March this year when it opened at the SM Seaside City shopping mall, followed by a second outlet six…
Sarah ChenFood
Gong Cha to open world’s first bubble-tea funhouse
Gong Cha will team up with Tokidoki to create the world’s first bubble-tea funhouse at Singapore Shilin night market. The Tokidoki-themed bubble-tea funhouse will bring three new flavours including Rosa Latte, Berry Biscotti, Bambu Boba, served in Tokidoki…
Minjun ParkFood
Ten Ren milk tea comes to Vietnam via franchise
Taiwanese milk tea brand Ten Ren to open first Vietnam store next month via a franchise agreement with The Coffee House. Nguyen Hai Ninh, co-founder and CEO of coffee chain, says Ten Ren will open 40 stores by the end of 2018. “At first, we will sell…