Retail News CRM

Tag: bubble

  • Billion-Dollar Bubble Tea: Gong Chas Anticipated $2.5B Sale Stirs Interest Among Top Private Equity Firms

    Billion-Dollar Bubble Tea: Gong Chas Anticipated $2.5B Sale Stirs Interest Among Top Private Equity Firms

    Gong Cha, the renowned bubble tea chain, has reportedly piqued the interest of potential buyers, including private equity companies Bain Capital and General Atlantic. The anticipated deal, initiated by the current owner and Boston-based private equity firm TA Associates, is projected to be worth up to $2 billion.

    Unlocking the Full Potential of Gong Cha

    JPMorgan handles the sale proceedings on behalf of TA Associates, with final bids expected by mid-June, according to an insider. Gong Cha’s annual earnings, before considering factors such as interest, tax, depreciation and amortisation, exceeds $70 million. Given the company’s valuation of $2 billion, the core earnings multiple is nearly 30 times. However, potential buyers may be more inclined to propose a lower multiple.

    Despite requests for comments, all parties involved – TA Associates, Gong Cha, Bain Capital, General Atlantic, and JPMorgan – have chosen to remain silent on the matter.

    Gong Cha, established in Taiwan in 2006, has evolved into one of the largest tea brands across the globe. It has a vast chain of nearly 2,200 stores spread across 32 markets, both company-owned and franchisee-operated.

    The Impressive Footprint of Gong Cha

    The bubble tea chain offers a variety of cold beverages, including milk tea and fruit tea, through its outlets located in Asia, North America, Europe, and the Middle East. Last year, Gong Cha reported a 14% increase in group revenue, hitting $217 million, primarily driven by growth in Japan and South Korea.

    In addition, Gong Cha made its presence known in five new markets last year, entering Thailand, Colombia, and Ecuador, and making strategic acquisitions of master franchisees on the east and west coasts of the United States. TA Associates, a company known for investing in growth opportunities, became a stakeholder in Gong Cha in 2019.

    Questions & Answers

    How much does TA Associates expect to earn from the sale of Gong Cha?
    Answer: The sale of Gong Cha is projected to fetch up to $2 billion.

    How many locations does Gong Cha have worldwide?
    Answer: Gong Cha has nearly 2,200 locations spread across 32 markets worldwide.

    When did TA Associates invest in Gong Cha?
    Answer: TA Associates invested in Gong Cha in 2019.

  • Sudden Shutdown Strikes Hollin Bubble Tea: Singapore Outlets Abruptly Close

    Sudden Shutdown Strikes Hollin Bubble Tea: Singapore Outlets Abruptly Close

    In a sudden move that caught consumers by surprise, Hollin Bubble Tea has ceased its operations in Singapore.

    Unexpected Closure

    Hollin Singapore’s social media profiles, including Instagram and Facebook, have been deactivated, and its website is now set to private. Victoria Lim, a 28-year-old marketing executive and a regular customer, noticed the closure after she found her local stores repeatedly shut. Initially, she assumed the closure of the branch at One Holland Village was a temporary measure. However, after several unsuccessful attempts at visiting the store, Lim began to suspect a permanent shutdown.

    Despite these closures, Hollin still appears as an active entity on the Accounting and Corporate Regulatory Authority’s Bizfile portal as of January 12.

    Confirmation from Landlords

    The landlords of the properties Hollin occupied have confirmed the closures. The Far East Organisation, which manages One Holland Village, confirmed that the Hollin outlet there had indeed shut down, despite having opened just a year ago in January. A spokesperson for SingPost Centre has also confirmed that Hollin ceased operations at the mall on January 1.

    Upon checking Google and various mall directories, it appears that Hollin has closed all but one of its Singapore locations.

    Remaining Outlets

    As of January 12, only the Punggol Plaza branch appeared to still be operational. Hollin’s directory listings at SingPost Centre, Suntec City, The Woodleigh Mall, and One Holland Village have been removed from mall websites. Additionally, Grab’s delivery platform shows several Hollin outlets marked as closed.

    Hollin established its presence in Singapore in 2018 with its inaugural store in Toa Payoh. The company then expanded to at least six locations, including Suntec City, Plaza Singapura, and The Woodleigh Mall.

    As of now, Hollin has not issued any official statement regarding the status of its Singapore operations.

    Questions & Answers

    When did Hollin Bubble Tea start its operations in Singapore?
    Hollin Bubble Tea started its operations in Singapore in 2018 with its first store in Toa Payoh.

    Which was the last operational Hollin outlet in Singapore?
    The last operational Hollin outlet in Singapore, as of January 12, was the Punggol Plaza store.

    Has Hollin issued an official statement regarding its closure in Singapore?
    As of now, Hollin has not released any official statement regarding the status of its Singapore operations.

  • Gong Cha Hits Thailand with Bold Expansion: Bubble Tea Giant Targets 100 New Stores in Latest Global Growth Surge

    Gong Cha Hits Thailand with Bold Expansion: Bubble Tea Giant Targets 100 New Stores in Latest Global Growth Surge

    Gong Cha, a leading global bubble tea brand, has recently launched its first concept store in Thailand. The new establishment is a result of a collaboration with Perfect Step, a local master franchisee and a subsidiary of Thai Outdoor Group.

    Strategic Location and Expansion Plan

    The new Gong Cha outlet is strategically located on the third floor of the Beacon Zone in CentralWorld. This store is the first move in an aggressive expansion plan, with the brand aiming to establish up to 100 stores across Thailand in the near future.

    Embracing Technology and Authenticity

    Every proposed Gong Cha outlet will present the brand’s Gong Cha 2.0 design. This modern and innovative design incorporates technology to enhance service speed and adaptability while maintaining the brand’s commitment to serving authentic whole-leaf teas.

    Focused on Global Expansion

    The Thailand launch is another milestone in Gong Cha’s ambitious global expansion plan. The brand recently made its foray into Colombia and aims to establish 10,000 outlets worldwide over the next decade. Gong Cha isn’t just focused on Asian markets; the brand will soon open its first Caribbean outlet at Atlantis Paradise Island.

    Accelerated US Expansion

    In the United States, Gong Cha is rapidly expanding its footprint through multi-unit franchise agreements in Milwaukee, Portland, and Nashville. The bubble tea brand has set a target of surpassing 500 locations across the country by 2028. To achieve this goal, Gong Cha is actively seeking top-tier franchise partners in regions including Southern California, Nevada, Utah, and the Southeastern US.

    Return to the Singapore Market

    Gong Cha had to exit the Singapore market after its franchise agreement with Gong Cha Singapore, which had been operating the brand since 2017, came to an end. However, Gong Cha Global has announced plans to re-enter the market next year.

    Currently, Gong Cha operates 2,200 locations in 30 international markets.

    Questions & Answers

    What is Gong Cha’s expansion plan for Thailand?
    Gong Cha plans to open up to 100 stores across Thailand.

    What is unique about the new Gong Cha outlets in Thailand?
    The new Gong Cha outlets in Thailand will feature the brand’s Gong Cha 2.0 design, which blends technology and authenticity, enhancing service speed and adaptability while staying true to authentic whole-leaf teas.

    What is Gong Cha’s expansion goal in the United States?
    Gong Cha aims to surpass 500 locations across the US by 2028 through multi-unit franchise agreements.

  • Chatime And Maybelline Unveil Mascara-inspired Beverage Line With Unique Promotional Prizes

    Chatime And Maybelline Unveil Mascara-inspired Beverage Line With Unique Promotional Prizes

    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 effect.

    The Limited-Edition Beverage Collection

    The unique, limited-edition drink line-up includes Bubbillicious Mango Fruity, Colossal Mango Passion Frozen, Maybe It’s Peach Fruity, and Maybelline Sugar Swirl. These beverages aim to offer a refreshing twist and a new dimension to the beverage experience for customers, reflecting the bold and innovative nature of the two brands.

    Rachel Druce, who is in charge of marketing at Chatime, has expressed that this partnership has opened up a novel dimension in the brand’s line of collaborations. According to her, this initiative blends the worlds of beauty and beverages in a manner that is unique, enjoyable, and perfectly in tune with Chatime’s brand identity.

    An Exciting Offer for Customers

    As part of the promotion, customers who purchase any of the Maybelline-themed bubble tea drinks will receive a ‘Scratch and Win’ card. This allows them the opportunity to win a variety of prizes, including over 3000 full-size mascaras and an array of Chemist Warehouse vouchers.

    Melanie Bower, the marketing director of Maybelline New York ANZ, has expressed that this collaboration perfectly complements the launch of their new mascara. Being the leading mascara brand in Australia, Maybelline New York is constantly seeking unique and exciting ways to engage with its consumers. According to Bower, the collaboration with Chatime perfectly encapsulates this ethos by celebrating bold lashes and bold flavours together.

    The promotion is set to run nationwide from August 12th to 25th across all Chatime outlets.

    Questions & Answers

    What is the nature of the collaboration between Chatime and Maybelline New York?

    The collaboration involves the launch of four limited-edition beverages inspired by Maybelline’s new Colossal Bubble Mascara.

    What benefits do customers get from this collaboration?

    Customers who purchase any of the Maybelline-themed bubble tea drinks will receive a ‘Scratch and Win’ card, providing them a chance to win a variety of prizes, including over 3000 full-size mascaras and Chemist Warehouse vouchers.

    How long is the promotion set to run?

    The promotion is scheduled to run from August 12th to 25th across all Chatime outlets nationwide.

  • Taiwanese bubble tea chain Gong Cha hits US$600m in global sales

    Taiwanese bubble tea chain Gong Cha hits US$600m in global sales

    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 Japan, South Korea, and the US.

    The company opened 240 new stores and entered five new markets: Saudi Arabia, Morocco, Mauritius, Honduras and Puerto Rico. Gong Cha now operates 2162 stores across 28 countries.

    “It’s been a fantastic year for Gong Cha,” said Paul Reynish, global CEO. “We’ve invested heavily in our supply chain and operations, expanded our footprint through new stores and geographies, and focused on making our existing stores more efficient and profitable for our franchisees.”

    The company recently introduced a new store format, Gong Cha 2.0, alongside a digital kitchen system that features ordering kiosks and automated drink machines.

    The brand also launched several marketing campaigns, including a high-profile collaboration with Final Fantasy XIV and limited-time drink offerings, resulting in more than 1.3 billion media impressions last year.

    “Looking ahead, we see huge potential for Gong Cha to become a global brand,” Reynish added.

    Founded in Taiwan in 2006, Gong Cha relocated its global headquarters to London in 2019. The company plans to enter at least six new markets this year and reach 10,000 stores globally by 2032.

    Lees ook:

    Lees ook:

    Lees ook:

  • Singapore and Hong Kong Set Review Date for Travel Bubble

    Singapore and Hong Kong Set Review Date for Travel Bubble

    An announcement on the launch date for the travel bubble is expected in early July, following a review by both sides.

    The latest developments come in view of the COVID-19 epidemic situation in Singapore, which has been stabilizing since early June, the Hong Kong government said in an announcement on Thursday.

    Both consider that it is prudent to keep the developments under review to ensure the epidemic situation is sufficiently stable before deciding in early July on the way forward for the ATB, the announcement said.

    The travel bubble between two business hubs, planned since October 2020, has been beset by numerous delays.

    On Thursday, Singapore also announced the easing of curbs to control the spread of Covid-19, to take place from June 14.

    The city-state brought back stricter social distancing measures in early May amid growing community infections, but new cases have since stabilized in the low single digits.

    Lees ook:

    Lees ook:

    Lees ook:

  • Hong Kong Launches Banker Bubble

    Hong Kong Launches Banker Bubble

    Top executives of financial firms in Hong Kong will be granted exemptions from quarantine in the city, according to the local regulator, giving the sector a first-mover advantage to reopening.

    Hong Kong authorities launched new rules, effective as of last week, that will enable alliterative traveling options specifically for senior executives in the financial sector with regional or global roles.

    The Chief Secretary for Administration of the Hong Kong Special Administrative Region Government (Matthew Cheung Kin-Chung) has designated certain categories of persons in the financial services sector to be exempted from the compulsory quarantine arrangements in Hong Kong, according to a circular released last Friday night by the Securities and Futures Commission (SFC).

    Senior executives of licensed corporations or their overseas affiliates who are fully vaccinated and meet the eligibility criteria may apply for exemption from the compulsory quarantine arrangements when they return or travel to Hong Kong, according to a circular released last Friday night by the Securities and Futures Commission (SFC).

    In addition a senior position at a licensed firm, financial professionals seeking exemption from the otherwise compulsory 21-day quarantine must submit an application with a detailed itinerary for the proposed trip to be electronically approved by the Financial Services and the Treasury Bureau (FSTB).

    The applying senior executive will only be allowed to leave their designated accommodation for approved activities set out in the itinerary alongside other requirements such as coronavirus tests, point-to-point transport, self-isolation, and medical surveillance.

    Licensed financial firms will be provided with four exemptions per month with two for visitors and two for returning executives, according to the circular.

    Breaching self-isolation requirements from designated accommodation will result in compulsory 21-day quarantine and failure to observe other exemption rules could result in a HK$5,000 ($644) fine and six months of imprisonment.

    The new rules were announced one day after the Hong Kong-Singapore travel bubble was supposed to launch but were suspended for the second time due to an infection spike in the latter city-state.

  • Singapore-Hong Kong Travel Bubble Hits Snag

    Singapore-Hong Kong Travel Bubble Hits Snag

    The arrangement for quarantine-free travel between the two cities was due to begin on May 26, following two previous postponements. Singapore is reassessing plans for a travel bubble with Hong Kong after the city-state moved to reintroduce tighter social distancing measures amid a growing cluster of Covid-19 cases tied to a large public hospital. The number of cases in the cluster stands at 40 and is linked to the India variant.

    We will monitor the situation and we will review and assess whether or not there will be any changes,» Lawrence Wong, the minister who co-chairs the Singapore government’s virus taskforce, said.

    The travel bubble has already been delayed several times from its scheduled start in November 2020, as a result of infection outbreaks.

    According to the terms of the agreement, the travel bubble will be closed for two weeks if the seven-day moving average of the daily number of unlinked local cases is more than five in either Singapore or Hong Kong.

    On Tuesday, Singapore authorities announced stricter rules on social gatherings, to last till May 30, to stem the spread of Covid-19 in the community. Gatherings are now limited to groups of five, down from eight previously.

    Offices are also to implement a flexible working and more people are to work from home – only 50 percent of staff are allowed at the workplace at any one time, down from 75 percent at present.

    Lees ook:

    Lees ook:

    Lees ook:

  • Singapore and Hong Kong to Create Air Travel Bubble

    Singapore and Hong Kong to Create Air Travel Bubble

    Travelers between the two cities will soon be able to make trips without the need for quarantine, stay-home notice or controlled itinerary.

    Singapore and Hong Kong have reached an in-principle agreement to establish an air travel bubble, following discussions between Hong Kong’s Commerce Secretary Edward Yau and Singapore’s Transport Minister Ong Ye Kung,

    While the bubble allows leisure trips, travelers must still produce negative Covid-19 test results and travel on dedicated flights, according to details announced by Singapore’s Ministry of Transport (MOT) in a press release on Thursday.

    It is a safe, careful but significant step forward to revive air travel, and provide a model for future collaboration with other parts of the world, Ong said about the agreement, which will be fleshed out in the coming weeks.

    Singapore has already set up reciprocal green lanes for essential and official travelers from Brunei, China, Japan, Malaysia and South Korea, although these require controlled itineraries. It has also opened its borders unilaterally to general visitors from Brunei, New Zealand, Vietnam and most of Australia.

    Lees ook:

    Lees ook:

  • Chinese bubble-tea chain Naixue Tea eyes IPO

    Chinese bubble-tea chain Naixue Tea eyes IPO

    Chinese bubble tea chain Naixue Tea – also known as Nayuki – is eyeing a listing in the US.

    The move could raise around US$400 million in capital, although many important details of the potential offering remain in flux as private discussions continue between the firm and its advisors.

    Naixue, which sells fresh fruit tea, cold-brew tea and cheese-tea blends as well as bakery items, operates more than 230 locations within China. The firm was launched in 2010 by Shenzhen Pindao Restaurant Management.

    Sources familiar with the transaction asked not to be identified, as the potential listing is still being discussed in private. Any plans may be impacted by the current coronavirus outbreak, which is still having a major effect on business within the country.

  • Taiwanese milk-tea brand CoCo continues rapid Philippines expansion

    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 months later.

    GM Larry Evans Tan says “Cebu City was one of the most-requested areas that the company received for CoCo to be present in”.

    Originating in Taiwan, CoCo is operated by Tobistro Foods in the Philippines. Having opened its first store in the country in 2015, it now has 35 nationwide. And it is looking to take the number to 40 by the end of the year, expanding into other markets including Davao, Cagayan de Oro, and Iloilo.

    The milk-tea brand CoCo says that the bubble-tea craze is so high in the Philippines that people order via food delivery service GrabFood at a pace of one cup every four minutes in Metro Manila alone.

    Lees ook:

    Lees ook:

  • Bubble-tea chain The Whale debuts in Singapore

    Bubble-tea chain The Whale debuts in Singapore

    Bubble tea chain The Whale has opened its first outlet in Singapore.

    The Nanjing-based brand opened the first franchise in the territory in a basement takeaway kiosk at Lot One Mall in Choa Chu Kang. It is known for its unusual blends, including the Brown Sugar Avocado and Volcanic Sapphire Whale drinks.

    The brand’s marketing and business development manager Clement Low revealed a broad-ranging expansion strategy for The Whale, telling local media outlet 8 Days that the company plans to expand across Singapore.

    “We are currently looking for space where we can have dine-in seats,” said Low.

    The Whale will open its second outlet at City Square Mall, Farrer Park within a fortnight, and a third at Chinatown’s China Square Central next month. A fourth outlet will launch at Rivervale Mall in Sengkang towards the end of the year.

    The Whale’s Singapore partner also operates Thai eatery chain Gu Thai Noodle Cafe.

    Lees ook:

  • Samsung has responses for Android users to send to green bubble haters

    Samsung has responses for Android users to send to green bubble haters

    Apple iPhone, iPad, Apple Watch and even Mac users know that when they are using the Messages app to communicate with others using the Apple ecosystem, they are sending and receiving iMessages. This is signified by the blue bubble that the conversations are housed in. And iMessages are encrypted from end-to-end.
    But when someone using an Apple device sees their conversation in a green bubble it means that the person on the other side of the chat is probably using an Android device. The green bubble means that the conversation is being handled as a SMS or a text message. Besides the lack of encryption, the special features offered for those chatting via iMessage (such as Animoji) cannot be used. And that doesn’t sit well with many iPhone, iPad, Apple Watch or Mac users.
    If you use an Android device and are sick and tired of getting scolded by your Apple wielding buddies in the middle of a group or individual chat simply because they can’t use iMessage, Samsung has your back. The manufacturer has created a GIPHY page containing more than 30 GIFs that you can use to send back a salvo after taking a hit from a green bubble hater.
    Perhaps one day in the future, people won’t be discriminated against simply because they create a green text bubble instead of a blue one on a device screen. Would Apple ever offer iMessage to Android users? We wouldn’t hold our breathe.
  • Travellers Can Now Order Boba Milk Tea On AirAsia Flights

    Travellers Can Now Order Boba Milk Tea On AirAsia Flights

    AirAsia Thailand recently introduced bubble milk tea in their in-flight menu – much to the delight of customers. There’s even a poster that says that passengers can now enjoy Boba milk tea 35,000 feet in the air.

    You’ve probably come across articles on how unhealthy bubble tea drinks can be, due to its sugar intake, sweeteners and artificial flavourings. To combat that, AirAsia Thailand has come up with a healthier option flyers.

    Enter AirAsia’s milk tea with konjac bubbles. According to Google, konjac (also known as konnyaku and devil’s tongue) “is high in fiber and has almost no calories”. Made from the root of a plant, some of its alleged health benefits include helping people to lose weight.

    Its boba also come in diamond shapes. There is only 1 flavoured bubble tea on the menu for the time being though.

    Priced at ฿75 (RM10), it is available on AirAsia Thailand and AirAsiaX Thailand flights.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Emma dessert opens in Singapore

    Emma dessert opens in Singapore

    Japan’s Emma dessert has opened its first overseas outlet, at Singapore’s Plaza Singapura.

    Located on basement level 2 of the shopping mall, the outlet offers two exclusive products to Singapore – the Boba Taco Softie, and Charcoal Cheese-flavoured Soft Serve – along with its original menu.

    Signature items include Soft Serve with Okinawa Brown Sugar Bubble in Wafer Shell, Soft Serve in Cup with Okinawa Brown Sugar Bubble, Soft Serve in Charcoal Cone.

    Emma opened its first shop in Japan in May 2018, and now has seven outlets in Japan.

    Lees ook:

    Lees ook: