Take-away delivery staff pick up packages at a milk tea shop in Zhuhai, Guangdong province. CHINA DAILY
Amid the growing popularity of food delivery platforms, China's coffee and tea market this year has been an amalgamation of fire and ice.
On the one hand is the hot performance of leading players. New-style tea brands such as Luckin and Mixue released eye-pleasing financial reports one after another. Under the pressure of subsidies offered by food delivery platforms, most leading brands still enjoy palpable dividends, achieving revenue growth and scale expansion.
