Heytea sees robust growth in 2023

The Chinese drink chain Heytea realized robust growth in 2023, with the number of its outlets surpassing 3,200 around the world, said its annual report.

In the report, the new-style tea beverage giant said that during the past year, it had entered more than 210 new cities, and accumulated over 100 million members, becoming the first tea beverage brand in the sector whose private domain users have exceeded the 100-million level. Meanwhile, since the launch of Heytea's franchise model in November 2022, it had opened 2,300 franchise outlets. The number of its outlets overall surged by 280 percent year-on-year, taking a lead in the industry.

Specifically, according to the report, 90 percent of the franchise outlets are located in high-quality commercial districts in the country. Every such outlet is popular and, among the outlets with a main area of 50 to 89 square meters, many had achieved sales of over 1 million yuan ($139,756) in the first month of opening.

In 2023, Heytea accelerated its pace of expanding its business overseas. Starting in August, it successively entered the United Kingdom, Australia, Canada, Malaysia and the United States. Heytea's outlet in the Soho area of London had set a single-day record of 2,000 bottles, generating sales revenue of 12,000 pounds ($15,145). Its outlets in Swanston Street, Melbourne, Australia set a record of selling nearly 3,000 bottles in one day, and the Broadway outlet in New York, the US sold over 2,500 bottles on the opening day of Dec 8.

The company was displayed on the big screen in New York City's Times Square, showcasing the new-style tea beverage trend from China.

"This year, we will continue to offer better goods and services to consumers, to bring new-style tea beverages to people's daily life and to the world," said the company's spokesperson in a letter to its employees.

According to a report from Beijing-based market consultancy 168, China's new-style tea beverage market was estimated to reach 333.4 billion yuan and 374.9 billion yuan by 2023 and 2025 respectively.

zhengyiran@chinadaily.com.cn