CHABAIDAO(02555) South Korea Station: Over 300 franchisees waiting for store opening opportunities.

Since opening its first store in the Gangnam district of Seoul, South Korea in early 2024, CHABAIDAO opened a new store at the Jegi-dong Station in Seoul on September 13th. According to Wang Huan, the head of the CHABAIDAO Korean market, "Under the premise of complying with relevant regulations, we will gradually open up franchise operations. In fact, even before the first store opened, we had received a large number of franchise applications, and currently more than 300 franchisees are waiting in line for the opportunity to open a store." It is understood that CHABAIDAO has sparked a wave of Chinese-style milk tea among young people in South Korea, especially winning the enthusiastic support of consumers aged 18-30. The proportion of local consumers in the South Korean market has exceeded 80%, with a high user repurchase rate of 45%.