Modern China Tea Shop, a Changsha-based new style tea drink brand, received funding from Suzhou Yuanchu Investment, an Alibaba-backed company.
Modern China Tea Shop (茶颜悦色), a Changsha-based new style tea drink brand, received funding from Suzhou Yuanchu Investment, an Alibaba-backed company.
The new investor took 6.32% of the company's share, joining Source Code Capital, Genesis Capital and Tiantu Capital in longing the fast-growing brand that has bewitched its consumers head over heals.
People would queue for hours to get one cup of tea made by a mixture of traditional Chinese tea as the base and some western ingredients such as cheese and nuts. More interesting, some consumers whose cities do not have this fascinating tea drink franchises would pay others online to consume for them, describe their drinking experience and send back the pictures.
In contrast with the exotic product like coffee, tea possesses a stronger culture foundation and discourse power in China and other countries in East Asia.
Chinese have enjoyed tea for millennia, The Classic of Tea (茶经) by Lu Yu (陆羽) in the Tang dynasty (around 729-804 AD) is an early work on the subject. By 2018, China remains the largest country of tea with the production of more than 1 million tons per year. However, the share of traditional tea industry in China's beverage market is declining, away from its yesterday glory.
Just like HeyTea, Modern China Tea Shop has awakened young people's love of tea and the confidence of consuming a cup of tea with the same price as a cup of coffee.
More to come.