Chatime’s market leadership continues with expansion
Chatime CEO Carlos Antonius optimistic of growth amidst emergence of competition in bubble tea category and promising consumer behaviour.
Amidst new and various competition in the market, Chatime’s bubble tea category has shown remarkable growth, with compound annual growth rates surpassing expectations in Australia and other parts of the world.
In a recent interview with QSR Australia, Chatime Group CEO Carlos Antonius revealed how his extensive experience in retail and deep understanding in the beverage industry’s evolution has helped in driving the success of Chatime.
“Chatime launched here [in Australia] about 13 years ago and we’re now at 168 locations [domestically]. We are the market leader,” Antonius said, noting the brand’s presence in 60 other nations.
He underscored that the bubble tea category has shown remarkable growth, with compound annual growth rates surpassing expectations.
Whilst Antonius acknowledged increasing competition in the market, but considers it a positive sign that validates the Australian consumer’s affinity for bubble tea and their desire to customise their own beverages to suit personal preferences.
One notable development Antonius highlighted is the changing consumer behaviour driven by economic factors.
With inflationary pressures and cash rate increases, consumers are seeking value in their purchases. To address this, Chatime focuses on strong retail operations, providing attractive offers to loyal customers and working closely with franchise partners to manage costs effectively.
When asked about the top priorities that have driven Chatime’s success, Antonius said: “Know your customer. The first piece of any business is to understand who your customer is and make sure you’re delivering a compelling proposition to them.”
Second to that, he said consistency in operations, from product quality to in-store experience, is another crucial aspect for Chatime.
Lastly, Antonius stressed the need for continuous innovation and agility, particularly in a post-pandemic and uncertain economic climate.
Looking ahead, the Chatime CEO revealed the company’s plans for expansion and collaboration, aiming to open several Greenfield locations by the end of the calendar year.
“Our forecast is to have 200 net locations trading by the end of this calendar year. So,that’s a big focus of development for the team,” he said.
Moreover, the company has exciting collaboration brand campaigns lined up, including a partnership with the Barbie movie.
Chatime is the official beverage partner for the movie, which is an opportunity to launch its first three corporate locations in Los Angeles as part of the expansion into the US market.
As Chatime continues to evolve and expand, Antonius expressed optimism for the future. He emphasised the company’s commitment to delivering outstanding experiences to customers and capitalising on growth opportunities in both the Australian and US markets.
