Tealive parent Loob Holding eyes IPO
Tealive parent Loob Holding, is planning an IPO to fund ‘aggressive expansion’, according to Business Insider.
The company is looking to open 1000 Tealive stores in 15 countries by the end of next year.
Along with another 150 new outlets in India by 2024.
China is still its focus market, with 500 more outlets to come after first outlet opened last November.
Tealive has more than 200 outlets in its home market, seven in Vietnam, two in China, and one in Australia. About one third of these are operated by franchisees.
Loob Holding CEO Bryan Loo said the company is building relationships with potential business partners in Japan, Indonesia, Myanmar, Mongolia, and the UAE, while Singapore is also in its expansion plan.
Apart from Tealive, Loob also runs F&B franchises in Malaysia, including Gindaco, Croissant Taiyaki, Define:food, Define:burgers and Ko Ko Kai.