Chagee has surrendered control of its Thai operations, selling a 51% stake for over 142 million baht ($4.4 million) to a group led by Thai President Foods. The move highlights Chagee’s focus on strategic partnerships to shore up its market positioning amid fierce regional competition. The sale raises the Thai subsidiary’s registered capital from 5 million to 279 million baht, shifting operational control to local investors while retaining shared strategic goals. The takeover precedes CHAGEE’s grand reopening festivities held from May 21 to 23, 2025, which included revamped stores at Vanit Village and other Bangkok hotspots.
Chagee sold a 51% Thai stake to Thai President Foods-led investors for $4.4M, tripling capital and ceding control to strengthen regional competitiveness.
Thai President Beverage—55% owned by Thai President Foods—now leads the consortium, joined by Flash Express founder Komsan Saelee (25%) and Ananda Development CEO Chanond Ruangkritya. Their combined logistics, real estate, and retail expertise aims to fast-track Chagee’s expansion in Thailand.
Chagee currently runs just two Thai outlets but plans aggressive growth under the new ownership. Recent reopenings at Bangkok’s Central World, Park Silom, and Don Mueang Airport signal efforts to regain consumer traction. Local partners’ supply chains and site networks could accelerate store openings, essential in a market where rivals like Mixue and Heytea already compete.
The consortium’s infrastructure reduces barriers to scaling, a tactic that helped Chagee reach 150 stores in Malaysia through similar joint ventures. Financially, Chagee remains robust, with $743.1 million cash reserves reported in Q1 2025 and 6,681 global outlets—a 63.6% yearly surge. Its overseas footprint includes 169 stores, with Thai operations funded through Thai President Foods’ working capital.
The brand’s global gross merchandise volume jumped 85.3% year-on-year to $24.5 million last quarter, underscoring its expansion momentum. This growth follows its recent U.S. IPO debut, which raised $411 million and marked it as the first Chinese tea chain to list in New York. Analysts note Southeast Asia’s beverage market—crowded with Chinese brands—demands local adaptation for survival. Chagee’s partial divestment mirrors industry trends, balancing control with regional savvy to secure long-term footholds.
The deal’s success hinges on merging Chagee’s branding with Thai partners’ market knowledge. If effective, the model could set a template for further regional entries, tightening the brand’s grip in a high-stakes arena.
