TAIPEI (Taiwan News) — Sharetea, a Taiwanese boba milk tea brand, announced on Tuesday (Oct. 4) that it has signed a deal with an Egyptian agent to open its first store in Cairo in 2023.
CNA cited Sharetea’s parent company Lianfa International Dining Business Corporation General Manager Lai Po-yu (賴柏宇) as saying the store will be Taiwan’s first and only boba milk tea store in Egypt. The company plans to open 20 stores in two years in the country.
Lai added that with a population over 100 million, 35% of which are under the age of 35, Egypt has incredible business potential. This is further magnified considering Egypt’s population has been growing by 20% every five years.
Lianfa International was cited as saying the Egyptian agent it is working with comes from an international petroleum consulting background. As the consulting company’s family members live in Texas, U.S., and are great fans of Sharetea, they had the idea of introducing the brand to their home country and went as far as flying to Taiwan to sign the deal despite quarantine requirements.
Sharetea became a leader in Taiwan’s boba milk tea industry when it opened two stores in Kuwait in August this year. After Sharetea opens its store in Egypt, the brand’s range will encompass five continents and 14 countries, including Taiwan, the U.S., Canada, Australia, the United Arab Emirates, Indonesia, Malaysia, Philippines, Singapore, Brunei, Thailand, Vietnam, Hong Kong, and the Czech Republic.
Sharetea signs a deal with Egyptian agent who flew to Taiwan despite quarantine requirements. (Lianfa International photo)