Chagee's Aggressive Expansion Appears To Be Paying Off
The premium tea chain's revenue rose 10.5% in the second quarter, as it entered the U.S. with its first store in Los AngelesPremium tea chain operator Chagee Holdings Ltd. CHA reported double-digit revenue and GMV growth in the second quarter, as it continued its aggressive expansion both at home and abroad, including the opening of its first U.S. store in Los Angeles.At the same time, the company felt the effects of fierce competition in its home China market, which showed up on its bottom line with flat q ...