CHAGEE reports 15x PE ratio amidst international expansion
The brand has a total of 6,681 outlets.
CHAGEE reported a price-to-earnings (PE) ratio of 15 times as of the first quarter of 2025, according to company disclosures.
The tea beverage chain also reported $24.82m (RMB178m) in gross merchandise value (GMV) from its international markets during the same period, representing an 85.3% year-on-year increase.
As of March 31, 2025, CHAGEE operated 169 overseas stores. The company now has 6,681 outlets in total.
CHAGEE’s overseas stores reported strong early-stage performance. In Singapore, average monthly GMV per store reached $250k (RMB1.8m). In Jakarta, the brand’s first outlet sold over 11,000 cups in its first three days of operation.
Its first store in Los Angeles opened in April and sold more than 5,000 cups on opening day. In Malaysia, CHAGEE plans to open 300 new stores over the next three years.
In Greater China, the average monthly GMV per store was $60.2k (RMB432k) in the first quarter. The company reported a 5.3-day inventory turnover cycle. Same-store sales in mature markets were growing at 20%.
CHAGEE recently launched its new flagship concept, CHAGEE NOW, with 11 stores in Shanghai. The line focuses on freshly brewed teas and tea lattes, distinct from traditional milk tea offerings.
The brand has also announced its expansion in the Philippines.
