China's fast-growing tea chain Heytea is planning to double its presence to 200 locations across the country by the end of 2018 and is moving into markets like Singapore and Hong Kong as part of its long-term international expansion, reports China Daily. The chain's owner, Shenzhen Meixixi Catering Management, reported sales increases of 100 percent year-on-year in 2017, which it expects will continue at the same pace over the next three to five years.
Heytea is now the second largest player in China's milk tea market, after Taiwan's Yi Dian Dain, according to Euromonitor International. Its signature product, cheese-foamed tea, has become a regular item not only on the menus of thousands of coffee and tea chains across the country, but also some well-established Chinese and western restaurants. Starbucks even introduced a similar product in China, a cold brew coffee topped with what it dubbed "cloud foam," according to the report. Full Story
Related: Cheese Tea Hits US; Japanese Spirits Company Bringing Products to US.
from Specialty Food News https://ift.tt/2NvxSl1
No comments: