ANDREA LOPES – New Delhi
Taiwan-based beverage provider Chatime has tied up with Alchemist Foods here in India to bring its homegrown concept of Bubble Tea to India through retail stores. Through a master-franchisee model, the stores will be launched in Delhi and Gurgaon, followed by Chandigarh. There are plans to open a total of 150 stores all across India. According to A K Srikanth, CEO Alchemist Foods, Bubble Tea is best described as a combination of tea, fresh fruit juice and smoothie. This will also be Alchemist’s first foray into the beverage space.
Henry Wang, president La Kaffa International, which owns brands Chatime, ZenQ and La Kaffa coffee, said that bubble tea was invented in Taiwan some 30 years ago and has today reached more than 15 countries. “India and Taiwan share a tea culture and the hot summer months in Delhi means that this product very successful in India. Over the years, we have been trying to promote investment in India. This is the first non F&B investment in India and will herald a new avenue of growth in bilateral trade and investment between India and Taiwan.”