A couple of topics for today. About how all business begins and ends with the customer. HeyTea and Why You Have to Thrill Your Customers. There was an interesting article last week about retail tea company HeyTea – and their rumored funding round at a price of 16B RMB ($280M). HeyTea is a popular and […]
In Part 1, I argued that Starbucks China most interesting competitor is not Luckin Coffee. It is HeyTea, an upscale Starbucks-type business focused on tea (something Chinese consumers really, really like). And to their credit, HeyTea appears to be mostly focusing not on digital (or financial engineering) but on product development and continually thrilling their […]
So Luckin Coffee has gone public and there are big questions about their revenue growth vs. operating losses. They are building an F&B business fast and aggressively against still unclear demand. But HeyTea is the Starbucks challenger I am keeping an eye on. They have long been referred to as the “Starbucks of tea”. And […]