Yummy Town Holdings Corp (雅茗天地), which operates three bubble tea brands in China, is set to list on Taiwan’s over-the-counter market in the second half of this year, the company said yesterday.
“We plan to list the company in Taiwan [on the GRETAI Securities Market] to build up brand awareness,” group chairman Albert Wu (吳伯超), a Taiwanese, told a media briefing.
After launching its first tea house in Taiwan in the middle of this year, the group plans to open between 10 and 15 new stores under the brand HappyLemon before the end of the year, Wu said.
Yummy Town, which is registered in the Cayman Islands with NT$250 million (US$8.35 million) in capital, currently runs more than 450 tea houses in 40 cities in China under three brands — R.B.T. Tea Cafe, Happy Lemon and Freshtea.
The group has also set up stores in Singapore, Thailand, the Philippines, Canada and Australia.
Wu said the group may gradually open tea houses under the other two brands in Taiwan in the near future and that it is ready to expand its international reach by launching new stores in the US and Europe later this year.
Following its GRETAI listing, Yummy Town plans to look for more business partners for its near-term expansion in the US and Europe, he added.