Yi Fang Fruit Tea increasing its global expansion pace
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Taiwanese tea brand Yi Fang Fruit Tea is expanding its retail network globally despite the Covid-19 pandemic.
The founder of Yi Fang, Ko Tzu-kai, said the brand will open more stores in northern California where consumers are seeking healthier beverage options. More stores will follow later this year in Dubai along with European countries, including Paris and Sweden.
Yi Fang operates more than 170 branches outside Taiwan, including Japan, China, the UK, Australia, and New Zealand. The brand aims to reach 200 stores by the end of this year.
According to UDN, since July, Yi Fang has opened more than 12 outlets across regions including Thailand, the Philippines, Cambodia, and Canada. Yi Fang’s offshore sales account for about 40 percent of the brand’s revenue.
Last year, the brand was forced to close more than 30 outlets in Taiwan after its announcement to support China’s “one country, two systems” policy triggered a boycott in the country.
Questions & Answers
Q.Which specific new markets are mentioned for Yi Fang's expansion later this year?
Which specific new markets are mentioned for Yi Fang's expansion later this year?
Yi Fang plans to open more stores in northern California, Dubai, and several European countries, including Paris and Sweden, later this year. This is part of their global expansion strategy.
Q.How many stores does Yi Fang aim to have globally by the end of this year?
How many stores does Yi Fang aim to have globally by the end of this year?
The brand aims to reach 200 stores outside Taiwan by the end of this year. They currently operate more than 170 branches in various international markets.
Q.What impact did the boycott in Taiwan have on Yi Fang's operations last year?
What impact did the boycott in Taiwan have on Yi Fang's operations last year?
Last year, Yi Fang was forced to close over 30 outlets in Taiwan. This occurred after the brand announced its support for China’s “one country, two systems” policy, which triggered a boycott.
Q.What proportion of Yi Fang’s total revenue comes from its offshore sales?
What proportion of Yi Fang’s total revenue comes from its offshore sales?
Offshore sales account for approximately 40 percent of the brand's total revenue. This highlights the significance of its international operations to its financial performance.
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