Chinese Milk Tea Brand Chagee Goes Public, CEO Becomes Billionaire at 30
Creatrip Team
a year ago
Chinese milk tea brand Chagee has successfully launched on the Nasdaq under the ticker 'CHA,' with its stock soaring by 49% before closing at a 15% increase on its first day. This success has made headlines, highlighting the remarkable journey of Chagee's CEO, Zhang Junjie, who became a billionaire at age 30. Zhang, who grew up as an orphan and lived as a homeless person for seven years, started his career at a Taiwanese milk tea chain and eventually founded Chagee in his hometown Kunming in 2017. Chagee specializes in premium Chinese milk teas using green, black, and oolong teas, capitalizing on a growing health trend against sugary bubble teas. The brand has 6,440 stores globally and plans to expand into the U.S. This achievement occurs amidst heightened U.S.-China trade tensions, showing strong market demand for health-oriented tea options.
