30-year-old CEO and creator of the Chinese language tea model Chagee has formally turn out to be a billionaire after the corporate’s profitable Nasdaq launch earlier this month. Chagee’s shares debuted at USD 33.75, up 21 p.c from the USD 28 IPO value on 17 April 2025, leading to a valuation of USD 6.2 billion. With the sale of 14.7 million American depositary shares, the IPO raised USD 411 million, making it the most important Chinese language shopper firm to listing in the US since RLX Know-how’s USD 1.4 billion IPO in January 2021. The announcement of Zhang Junjie’s new billionaire title arrives within the midst of ongoing tensions from the U.S.-China commerce dispute.
When Zhang established Chagee in Kunming, China, in 2017, his journey formally started. Regardless of not going to varsity, he labored as an apprentice in a bubble tea store and later in company governance at a Shanghai startup to acquire beverage sector expertise. Underneath his path, Chagee has grown to round 6,700 teahouses worldwide, principally in posh Chinese language purchasing centres, and in 2024, it introduced in USD4.03 billion.
The corporate’s development technique includes aggressive worldwide growth with operations already established in Malaysia, Singapore and Thailand. Zhang maintains appreciable management over the enterprise by controlling 89 p.c of Chagee’s voting energy by way of a dual-class share construction. CHAGEE has quickly grown into considered one of China’s foremost tea manufacturers, with a worldwide footprint of over 4,500 shops. Distinguishing itself from the bubble tea wave, CHAGEE focuses on high-quality, milk-based brews made with conventional Chinese language teas like oolong, inexperienced and black. Its elegantly minimalist shops evoke a café-style expertise — extra in step with a contemporary tea lounge than a grab-and-go kiosk.
With whole funds raised falling 91 p.c to USD 1.39 billion in 2024, Chagee’s IPO success stands out amidst a common discount in Chinese language IPO exercise in the US. Nonetheless, investor confidence in China’s home consumption development continues to gas sturdy curiosity. Zhang’s fast ascent to billionaire standing highlights the chance for younger entrepreneurs in China’s increasing shopper market. Aspiring company executives negotiating the intricacies of worldwide marketplaces ought to draw inspiration from his story.
CHAGEE’s growth into Singapore was marked by the opening of its largest regional flagship on the nation’s VivoCity mall in January. This indicators a brand new chapter within the model’s pan-Asian development technique. As a part of its evolving model path, the tea firm is shifting past native influencer advertising to deal with high-impact regional campaigns, exemplified by the presence of Ok-pop star MINNIE on the retailer’s launch. This shift underscores CHAGEE’s ambition to place itself not simply as a tea model, however as a cultural power throughout Asia, mixing life-style cues with the regional tradition of tea consumption.
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