Customers at a Gong Cha shop in Việt Nam. The company is set to open its 2,000th store worldwide on July 24. — Photo Courtesy Gong Cha Vietnam

One of the world’s fastest growing tea brands, Gong Cha, said it is opening 10,000 stores by 2030 world-wide including Việt Nam.

To reach to target, the chain plans to open 10 stores in several markets on the same day, on July 24.

Starting off in the Southwestern Pacific, stores will open in New Zealand, Australia, Japan, South Korea, Taiwan (China), the Philippines, Canada, and Mexico, before finishing in Boston, the US, one of Gong Cha’s largest and most strategically important markets with more than 200 stores.

With that plan, Gong Cha has 2,000 stores in the whole country by July 24.

“Now, with 2,000 stores globally, and growing consumer demand for bubble tea, we have a really strong platform to unlock our growth potential,” Paul Reynish, its global CEO, said.

“We believe we can scale Gong Cha to more than 10,000 stores by 2030, with a large proportion of that growth coming from the UK, Europe and the US.”

After expanding internationally via franchise agreements in 2011, Gong Cha managed to establish a global footprint with its highly scalable and innovative offer.

In the last two years it has opened more than 450 new stores.

With demand growing, the global bubble tea market is expected to expand by 7.5 per cent a year to US$4.5 billion by 2027.

In Việt Nam, its franchisee is Golden Trust Company.

Gong Cha Vietnam has 39 stores.

According to Brands Vietnam, it become the most popular brand on social networks in June this year. — VNS