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Private equity firm Bain Capital has successfully completed the acquisition of the global bubble tea franchise, Gong Cha, a deal estimated to be worth around US$635 million. This figure falls significantly short of the $2 billion valuation that was initially…
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,…
T2 Tea has announced that it will be shutting down its remaining three stores in Singapore, bringing an end to a nine-year presence in the market. The closures, which will occur between March 20 and 25, involve outlets located in VivoCity, 313@Somerset, and…
Molly Tea, a renowned Chinese tea chain, has marked its entrance into the intensely competitive food and beverage markets of Southeast Asia with the opening of its debut store in Singapore, situated at Orchard Central. The new establishment, which is the…
Gong Cha, a globally recognized tea brand, is introducing significant updates to its business model, labeled Gong Cha 2.0, that will enhance efficiency across its franchise locations. The New Operating Model The highlight of Gong Cha 2.0 is Super Wu, an…
Cai Ca, a novel bubble tea brand, conceived and established by the ex-CEO of Gong Cha’s Singapore franchise, Kang Puay Seng, has effectively filled the void left by Gong Cha’s departure from the city-state by taking over six of its former outlets. The Birth…
Chinese beverage company Chagee Holdings is maintaining its focus on premium products, even in the face of falling sales and profits as customers turn to more affordable competitors. The company’s co-founder, Shang Xiangmin, stated in a recent interview, “We…
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…
Chinese tea retail chain Cha Bai Dao, widely known as ChaPanda, is preparing to launch its inaugural US-based store in Flushing, a neighborhood in Queens, New York City. Main Street Debut The new store is slated to open on Main Street, an area identified by…
Chatime and Maybelline New York have come together to unveil a series of four beverages that draw inspiration from Maybelline’s latest addition to its product line, the Colossal Bubble Mascara. The mascara promises to offer a voluminous yet lightweight…
Despite facing an earlier boycott due to its utilization of a contentious ‘nine-dash line’ map in its mobile application, Chinese milk tea franchise Chagee has made a return to the Vietnamese market. New Store Opens Recently, Chagee set up shop in Tan Huong…
Chayanyuese, a renowned Chinese tea brand, has announced its expansion into the North American market via various e-commerce platforms. The Changsha-based tea company has launched an exclusive online store on Shopify while simultaneously opening official…
Chagee: The Chinese Tea Brand Poised to Enter Philippine Market Chagee, a renowned Chinese tea brand, is poised to infiltrate the Philippine market. This expansion is earmarked for August, with three branches slated for unveiling in Metro Manila. The fresh…
Taiwanese bubble tea company Gong Cha has announced the enlistment of Felix, a member of the renowned South Korean group Stray Kids, as their global brand ambassador. Gong Cha Launches New Campaign The brand aims to bolster its global presence with a campaign…
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…
Taiwanese bubble tea chain Gong Cha has reached US$600 million in global system sales for the 12 months ended December, driven by its rapid global expansion. Group revenue also rose 12 percent year-on-year to US$190 million as the brand expanded operations in…
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