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4w ago

Chagee Files for Nasdaq IPO and Plans First U.S. Store in Los Angeles

The Chinese bubble tea chain seeks to expand globally, entering the U.S. market while navigating investor caution and political challenges.

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The Nasdaq logo is displayed at the Nasdaq Market, in New York City, New York, U.S., February 13, 2025. REUTERS/Brendan McDermid/File Photo
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Overview

  • Chagee has officially filed for a U.S. initial public offering on the Nasdaq under the ticker 'CHA'.
  • The company plans to open its first U.S. store at the Westfield Century City Mall in Los Angeles this spring.
  • Founded in 2017, Chagee operates over 6,400 locations, with 97% in China, and reported $344.5 million in net income from $1.7 billion in revenue in 2024.
  • Chagee aims to expand to 100 countries, create 300,000 jobs, and deliver 15 billion cups of tea annually as part of its global growth strategy.
  • The company's U.S. entry comes amid decreased Chinese company listings on U.S. exchanges and lingering investor caution following the Luckin Coffee scandal.