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Only two of the eight tea shops in Hong Kong are operating K11, and the Quanxintiandi branch has been closed

2020-05-04T03:20:33.628Z


In the popular Chinese tea shop "Hytea" (Hytea), which entered Hong Kong at the end of December 2018, hundreds of people queued up for "Chao Sheng" when the branch in Sha Tin New Town Plaza opened. Only media reports, "


Financial News

Written by: Xu Shihao, Lin Leqian

2020-05-04 11:08

Last update date: 2020-05-04 11:08

In the popular Chinese tea shop "Hytea" (Hytea), which entered Hong Kong at the end of December 2018, hundreds of people queued up for "Chao Sheng" when the branch in Sha Tin New Town Plaza opened. Only the media reported that the eight branches of "Xi Cha" in Hong Kong had been closed for less than two years after entering Hong Kong.

A reporter from "Hong Kong 01" visited K11 Art Mall today (4th) and found that all branches have been sealed with fences.

In addition, the "Xi Cha" shop in Tsuen Wan, Tsuen Wan was also sealed with a fence.

"Hong Kong 01" is inquiring about the latest rental situation of "Xi Cha" on K11. No reply has been received. According to the information, the K11 Art Mall branch opened in March 2019; it is the fourth branch of "Xicha", and the K11 Musea branch opened in September 2019, covering an area of ​​about 4,000 square feet.

Only two branches continue to operate

As for the local restaurant information platform OpenRice, the three restaurants of "Xi Cha" in Tsim Sha Tsui have been marked as "closed"; the branches in Hysan, Causeway Bay, Tsuen Sin Tin and Yuen Long yoho mall are marked as "renovation"; only those that are still operating Two branches in Times Square, Causeway Bay and Sha Tin New City Plaza.

The reporter then checked the official website of "Xi Cha" on the mainland, and revealed that there are currently only three branches in Causeway Bay Times Square, Sha Tin New City Plaza and K11 Art Mall.

The official website of "Xicha" means that there are currently three branches in Hong Kong. (Pictures on the official tea website)

The latest market value or more than 16 billion yuan

The "Xi Cha", famous for its cheese milk tea, was founded in 2012 by Nie Yunchen, a "post-90s" in the Mainland, and has developed rapidly in recent years. According to the media's "36 Krypton" report in March this year, Xi Tea is about to complete a new round of financing. The leading investors are Gao Yuan Capital and Coatue Management, a US fund. After this round of financing, the valuation of Xicha may exceed RMB 16 billion.

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Hi tea

Source: hk1

All news articles on 2020-05-04

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