May. 30 at 6:37 AM
$CHA 's shares moved up 25% yesterday, making it one of the biggest one-day events in its short history on the stock exchange.
A popular WeChat article from 钛媒体 went over how Chagee's website crashed within 5 minutes of its first store opening in South Korea. Improvements to the company's membership system and expansion of offline activities have also helped the brand's appeal. The latter has included tasting sessions, birthday parties, and public welfare events. Chagee has launched an average of one new product per week over the recent reporting period. Its membership program has increased by more than 10 million to 248 million (11.7%). New drinks have not only been limited to time but also to region, helping create a higher sense of urgency and scarcity. Profitability has remained stable, having been achieved for 13 consecutive quarters.
Chagee has expanded to SK, the USA, Malaysia, Singapore, Thailand, Indonesia, the Philippines, and Vietnam to reach 374 overseas stores.
