FRANCHISING | Staff Reporter, China

TenRen Tea to open further eight sites by 2020

It plans to use the 65.6% of IPO proceeds to open new outlets and widen its retail footprint.

According to The Standard, B&S chairman and chief executive Andrew Chan Kam-chuen, said another eight branches will be opened in the fiscal years of 2019 and 2020. Chan also said the company will assess the market before raising the price of TenRen's menu and ensure the balance of profit and market response.

The company said it will focus on further developing its newly-introduced brands and look for more overseas popular brands.

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