US EditionChina's Milk Tea Chain Chagee Files For Nasdaq IPO Under 'CHA,' Taking On Starbucks In Growing Market - Starbucks (NASDAQ:SBUX)
- Founded in 2017 by Junjie Zhang, Chinese bubble tea chain Chagee, with over 6,400 teahouses across China, Malaysia, Singapore and Thailand as of December 31, filed for a U.S. Initial public offering on Tuesday and seeks to trade on the Nasdaq under the ticker symbol "CHA".
- Junjie Zhang created the chain, which emphasizes tea tech and integrates digital automation, to modernize tea drinking, drawing inspiration from the success of international coffee companies.
- In 2024, Chagee generated a net income of $344.5 million and net revenue of 12.41 billion yuan, with a Gross Merchandise Value of $4.06 billion , representing a 173% increase from 2023.
- Chagee aims to expand globally, wanting to serve tea lovers in 100 countries, generate 300,000 employment opportunities worldwide, and deliver 15 billion cups of freshly brewed tea annually, and is preparing to open its first U.S. Store in the Westfield Century City Mall in Los Angeles this spring.
- Despite a potential rebound in the U.S. IPO market in 2025, a decrease in Chinese companies listed on U.S. Exchanges and the delisting of Luckin Coffee due to inflated sales may cause U.S. Investors to be wary of investing in another Chinese beverage chain, especially with growing frostier relations between the U.S. And Beijing.
13 Articles
13 Articles
Chagee files for US IPO, showing rapid rise of Chinese ‘new-style tea drink” market
Chinese tea chain Chagee filed for a US IPO on Tuesday. If the listing is successful, Chagee will be the first Chinese “new-style tea drink brand” to be listed on the US stock market, and the fifth tea and beverage maker to go public after Nayuki’s Tea, Chabaidao, Guming and Mixue Group, which are listed in Hong Kong.
China's Milk Tea Chain Chagee Files For Nasdaq IPO Under 'CHA,' Taking On Starbucks In Growing Market - Starbucks (NASDAQ:SBUX)
Chagee Holdings Limited, a premium tea drink brand, has filed with the Securities and Exchange Commission to list its ADSs on the Nasdaq Global Select Market under the ticker “CHA.” The company aims to fuel its expansion in the growing freshly-made tea drinks market through this IPO. Founded in 2017, Chagee has grown rapidly. As of Dec. 31, its network included 6,440 teahouses, with 6,284 in China, making it ...Full story available on Benzinga…
Coverage Details
Bias Distribution
- 57% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
