Springwise has spotted three aspiring ‘Teabucks’ chains: Boston based ‘Tealuxe’, Taiwan/US based ‘Cha for Tea’ (which is owned by ‘Ten Ren Tea Co.’), and Thai/Indian ‘Tea Concepts’.
Tealuxe currently runs three outlets in Massachusetts and one in New York (near Columbia University). They are backed by VC firm Halpern, Denny & Co and hope to open three more units in New York this year, and ten more in 2004. (Source: Wall Street Journal).
Taiwanese Cha for Tea has nine outlets: five in Taiwan, two in the US, one in Japan and one in Australia. In addition to dozens of tea varieties, Cha for Tea is also big on bubble/boba tea: tea served with chewy tapioca pearls, a craze that started in Taiwan in the early ’80s.
And last but not least, Calcutta-based Premier’s Tea India Co. and its local Thai distributor, Tea Concepts, will open two concept shops in Bangkok next month (March 2003). Anticipating success, the firm is negotiating to open three additional outlets next year, one each at Central Lat Phrao, Siam Square and Sukhumvit, with expansion through franchises on the cards. (Source: Bangkok Post).
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