The buzz around CHAGEE is growing louder as the global bubble tea sensation sets its sights on the US stock market. Following the success of Mixue’s recent Hong Kong IPO, rumors are swirling that CHAGEE, the powerhouse behind the “superior” milk teas, is ready to take a major step toward going public in the United States.
On March 6th, CHAGEE Holdings Limited confirmed that the China Securities Regulatory Commission (CSRC) has released an official notice regarding the brand’s upcoming overseas offering and listing plans.
The news dropped just days after Mixue defied predictions and broke the “below issue price curse” experienced by the first three bubble tea brands to go public. For CHAGEE, this move could be nothing short of game-changing, as the brand—already eyeing Starbucks as its biggest competitor—sets out to make a splash in the stock market.
Sources confirm CHAGEE plans to issue up to 64,731,929 common stock shares, with the possibility of listing on either Nasdaq or the New York Stock Exchange (NYSE). However, the brand’s official statement remained tight-lipped, simply noting that “all is subject to the CSRC disclosure.”
Launched in 2017, CHAGEE has quickly become a force to be reckoned with, boasting over 6,200 locations worldwide, with more than 6,000 in China alone. A mere two years ago, the company had only 1,000 stores, but their explosive growth saw over 5,000 new locations open in just 24 months.
The brand has already set its sights on overtaking Starbucks in China’s market by 2024, and with the IPO looming, it seems the dream of becoming a global sensation could soon become a reality.
As the bubble tea market in China continues to evolve, local brands are rapidly expanding into national chains. However, this has come at a cost—over 150,000 stores closed in 2024 as the market became oversaturated.
While the current wave of IPOs, including CHAGEE’s planned listing in New York, signals an exciting new chapter for the brand’s international expansion, the road ahead may not be without its challenges.
Supply chain issues and high costs are expected to present hurdles, but with the right investment and strategy, CHAGEE could soon become a household name worldwide.
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