Plans for 50 outlets in 5 years with eyes on the US market next
by ADRIAN PHUNG / Pic courtesy of Tealive
HOMEGROWN lifestyle tea brand Tealive continues to expand its international footprint with the opening of its first store in North America recently.
According to Loob Holding Sdn Bhd, founder and CEO Bryan Loo, the opportunity to open its first store in downtown Ottawa, Canada, came when it was approached by an established business group involved in running pastry and bakery businesses.
“All this while, we are focused on expanding in South-East Asia and were not particularly targeting North America until the opportunity knocks on our door.
“We are convinced that our chosen local partner in Canada will be a good fit as they have over 20 years of experience in the food and beverage segment,” Loo said in a statement recently.
He added that the entry into Canada allowed them to learn more about the North American market up close while they plan for its entry into the lucrative US market next.
Moving forward, Loo mentioned that it is targeting to open 50 outlets in the next five years across Canada.
“Our partners have travelled to South-East Asia where they have been exposed to Tealive. They like our brand’s reach, our format being scalable with many store sizes and that we are in petrol stations. They are impressed with our focus on the drive-through market as it is a staple in the North American market. They recognise our versatile business model and are sure this would be an ideal format for a Western market like the US.
“They are convinced that Tealive is a unique offering in the boba market in line with our brand promise of ‘Always More Than Tea’. Tealive has an extremely wide range of drinks in our portfolio and also our current extension into food through Tealive Eats.
“You can see that we have a food menu that sets us apart from the typical pearl milk tea industry. Our Canadian launch menu is indeed innovative and exciting with the drinks and food that are curated for local palates without compromising our unique Tealive breakthrough experience,” Loo added.
The grand opening of the store at Somerset Street downtown saw it being swamped by eager boba lovers including local influencers like Eric Chan of Ottawa Nibbles, Melissa of Mels Hangry Table, Allie of YumYumYow, Marilou of 20ys and Anglea of Anglea Bites.
Moving forward, Loo said there is still much potential for the global bubble tea market and he is looking forward to having the company ready for the next wave.
“According to leading market research firm Facts and Factors, the global bubble tea market size was valued at around US$2.1 billion (RM9.47 billion) in 2020 and is estimated to grow to about US$4.5 billion by 2026, at a compounded annual growth rate of 8.1% between 2021 and 2026,” he said.
The leading lifestyle tea brand in South-East Asia currently serves over five million consumers per month in Malaysia with a presence in the Philippines, Vietnam, Myanmar, Australia, the UK, Cambodia, Brunei, Mauritius and Canada.