Premium Chinese tea house, Chagee has recently opened its first store in Central World, Bangkok, hoping that its organic tea leaves from its own farm will entice tea drinkers and connoisseurs to its store.
Chagee Thailand CEO Aphichat Chuanchaiwong said its company plans to open 10 more stores in Bangkok in 2023 with a sales revenue target of Bt 50 million (US$1.52 million).
Although there are already many tea stores, including the bubble tea chains in Thailand, there is still ample room for more players as the company’s recent in-house market research valued the local market here at Bt 26 billion (US$792 million). Its research also found that the market lacks premium tea drinks made from high-quality ingredients, which Chagee can offer.
The Chagee chain emphasises on its ‘Chinese Chic’ using genuine Chinese tea from its organic farm near Kunming, Yunnan province.
Chagee was founded in 2017 in China and has rapidly expanded to more than 500 stores in Asia.