South Korea’s popular bubble tea brand Gong Cha Korea is setting up the stage for an international expansion.
Presently the bubble tea brand – Gong Cha Korea operates approximately 360 stores in its home market and with this expansion plan, the label is eying stores in the Middle East and Europe. It will also buy more than 1380 stores in 18 countries, including the US, Canada, Australia, New Zealand, China, Japan, Singapore, the Philippines, and Hong Kong.
Larger shares of Gong Cha’s consumers are aged from 10 to their 30s. Banking upon the dedicated young customer base, the company anticipates entering new overseas marketplaces.
The expansion will be aided by a share transaction with its parent company Royal Tea Taiwan in which the Korean business will progressively boost its ownership from 35 per cent to 70 per cent by January next year.
