Do Chinese people really drink that much milk tea?
Mar 25 2025: Chinese tea chain Chagee filed for a U.S. initial public offering on Tuesday, seeking to trade on the Nasdaq using the ticker “CHA.”
Since its founding in 2017, the company has grown to more than 6,400 teahouses across China, Malaysia, Singapore and Thailand, as of Dec. 31, according to a regulatory filing. Roughly 97% of its locations are in China.
CNBC
Chagee in Shanghai—yes it’s everywhere, almost like Starbucks.
Beverage brands that went public: Nayuki’s Tea, Chabaidao, and Guming—all in HK. Recently, MiXue joined (see this blog: The giant bubble tea chain Mixue IPO in HK). Cotti is competing fiercely with Luckin (See blog***The intensified price war between COTTI and Luckin***). Will it be next?