Taiwanese franchise Yi Fang Fruit Tea is expanding its presence worldwide despite the toll the coronavirus pandemic has taken on the global food and beverage industry.
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Originating in Taichung, Yi Fang is best known for its fruit-based drinks, a distinct feature that makes it stand out in a competitive market built around the country’s bubble milk tea. While COVID-19 has stalled the chain’s plans for expansion, the company is riding the “healthy drinks” wave as public awareness about wellness increases, wrote UDN.
According to founder Ko Tzu-kai, the tea franchise’s signature fruit tea is taking Northern California by storm thanks to its health-conscious residents. The region’s Yi Fang shops bring in sales totaling up to US$135,964 a month.
Yi Fang currently has 171 overseas branches, including in the U.S., the U.K., Canada, Thailand, the Philippines, Cambodia, Japan, mainland China, Hong Kong, Singapore, Malaysia, Vietnam, Australia, and New Zealand. More stores are expected to open in the second half of the year in Paris, Sweden, and Dubai.
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Yi Fang raked in more than US$67.9 million in revenue in 2019 and is set to see 20 percent growth this year, the company said.
(Source: Taiwan News)