Loob Holding Sdn Bhd, the parent company of the Tealive brand, today (12 June) announced it will open Tealive stores in China at a press conference.
Loob Holding will undertake a joint venture with Zhejiang Boduo International Trade Co Ltd （浙江博多国际贸易有限公司）and Shanghai Panfei International Trade Co Ltd （上海潘飞国际贸易有限公司）. Zhejiang Boduo is a fully integrated supplier for the F&B and catering franchise business in China, whereas Shanghai Panfei is a leading supplier of coffee beans and coffee equipment in China.
China will be Tealive’s fourth overseas market, after Vietnam, Australia, and India. According to Loob Holding CEO Bryan Loo, the first Tealive store will open in Shanghai in September. The group will target opening 500 stores across China over the next 3 years. Zhejiang Boduo’s executive director, Yu Tong further added that China’s tea market has been increasing greatly, from only 7 per cent of total beverage consumption in 2000, to 26 per cent in 2015.
Loo further added that the tea market in China is worth more than US$21 million per year. Tealive will differentiate itself from other tea brands in China by bringing a Malaysian touch to the Chinese market, by using Malaysian ingredients in the menu and infusing stores with Malaysian hospitality.