Do you plan to go public in Hong Kong? Lele Tea is fully launched in the South China market!

There are many volumes in the new tea market, and it is estimated that some small partners who are concerned about the development of the new tea industry have heard of it. There are tens of thousands of brands competing in the high, middle and low end of the new tea, such as Xi Cha and Nai Xue's tea at the high end, a little bit at the middle end, and the most sinking market is dominated by Honeysnow Ice City.

The new style tea in South China is occupied most of the position by the brands such as Xi Tea and Nai Xue Tea, which have long been rooted and developed. On the other hand, Lele Tea, a new tea brand headquartered in Shanghai, entered Guangzhou in 2017. It has only survived in Guangzhou, a popular first-tier city, for more than five years, but it officially closed its shop in Guangzhou leading Shopping Mall on February 23, 2022.

In July 2021, Xi Tea founder Nie Yunchen said that he had "thoroughly, completely and resolutely" abandoned the acquisition of the brand Lele Tea, which sparked discussion. Subsequently, Lele Tea was in the second half of last year, Chongqing, Xi'an, Guangzhou and other places have closed its stores, fell into a negative controversy. Huacheng Huidian and Lefeng stores were closed in April and August of that year respectively.

With the official closure of the Lele Tea Shopping Mall in Guangzhou, the closure of the last store in Guangzhou means that Lele Tea has completely withdrawn from the South China market.

Lele Tea's official Weibo posted a Weibo message on Feb. 23, saying that Lele Tea's Guangzhou exhibition store was open on its last day, saying that Lele Tea is only temporarily bid farewell to the southern China market and is expected to return to southern China by the end of this year or early next year.

Lele Tea launched a vote on January 6, 2022, asking netizens to choose the cities they most want to move into from 12 cities, including central, southern and eastern China, including six in southern China. It can be seen that the Lele Tea brand has a certain number of enthusiasts in South China, and this farewell to South China may only be a short farewell.

Some fans of Lele Tea from Guangzhou left messages in Guangzhou waiting for the brand of Lele Tea to return to Guangzhou and expressed their expectation that Lele Tea could return to the Pearl River Delta region as soon as possible. There are also some Lele tea lovers who miss the bread of this tea brand.

The last store of Lele Tea in Guangzhou was officially closed, which aroused the pity of many friends in Guangzhou. There were even long queues at the scene, and scalpers were sold on the spot.

Lele Tea started in East China in 2016, with the visual impact of "dirty" as a selling point, and with the popularity of dirty bags and dirty tea, it has successfully raised its price, becoming the third largest high-end tea brand after Xi Cha and Nai Xue tea.

In December 2021, Lele Tea announced the opening of 22 stores. However, with the rise of raw material costs and labor costs, the cost pressure that brands have to bear also increases. Today, Lele Tea no longer blindly pursues coverage in increasing the number of stores, but increases in the destination city, thus reducing a certain cost.

In mid-September last year, it was reported that Lele Tea could be listed in Hong Kong as soon as 2022, with plans to raise US $300-500m through IPO. The person in charge of Lele Tea responded: "the company will focus on business development at this stage, and there are no clear listing plans for the time being." In the response, I can vaguely feel that Le Le Tea wants to be listed on the market.

It is estimated that the closure of all stores in South China and the focus on the development of the East China market is also a "back-to-back battle". Do you think Lele Tea will be seen again in South China a year later?

Photo Source: official Weibo and Internet of Lele Tea

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