Nayuki quickly rose to fame with its combination of tea drinks and soft European bread, becoming a leading brand in the new-style tea beverage sector. However, its largest store nationwide, Nayuki Dream Factory in Shenzhen Coastal City, recently quietly closed, and the site will be upgraded to "Nayuki Life," a lifestyle concept store. This thousand-square-meter flagship store, which once generated nearly a million in revenue within three days of opening, carried Nayuki's ambition to experiment from tea drinks to coffee, craft beer, Western cuisine, retail, and other multi-format ventures. From Nayuki Tavern to Nayuki PRO, and further to Nayuki Bookstore and ready-to-drink product line layout, Nayuki has continuously tried to break the boundaries of tea drinks. This renovation of its largest store reflects the collective anxiety of brands seeking differentiated breakthroughs amid intensifying homogenized competition in the new-style tea beverage industry. This article reviews the rise and fall of Nayuki Dream Factory and explores whether multi-format development can truly be the way for tea beverage brands to break through. [more…]

Nayuki Tea opened its first PRO store in Beijing Changying Tianjie, marking that this new-style tea beverage brand has officially incorporated specialty coffee into its core product line. Unlike regular stores, the PRO store format has undergone a comprehensive upgrade in space design, product structure, and service scenarios, offering seven specialty coffees, over thirty bakery products, and more than twenty kinds of self-produced snacks. Coffee is priced at 15 to 24 yuan, positioned as everyday specialty coffee. Previously, the PRO store format had been successfully validated in Shenzhen. Nayuki plans to open about 200 PRO stores in 2021, and has already established more than ten in Nanjing, Chengdu, Xi'an, Guangzhou, Harbin, and Beijing. This move not only fills Nayuki's gap in the specialty coffee market but also demonstrates its strategic intent to deepen its presence in new retail and expand business consumption scenarios. [more…]

Nayuki received a fine for a false advertisement regarding mulberry ingredients, drawing attention to its brand marketing methods. This is not the first time Nayuki has been embroiled in controversy; since its listing, multiple stores have been exposed or penalized for food safety issues. Meanwhile, Nayuki has been trying to connect with young consumers through cultural, artistic elements, and social marketing. From high-priced tea drinks to loss-making financial reports, to closing its largest store and establishing a new company, Nayuki is seeking a new path to survival. This article reviews the sequence of events, historical penalty records, and the multiple challenges the brand faces in marketing and operations, and explores the core of competition in the new tea beverage industry. [more…]

Nayuki, a leading new-style tea beverage brand founded in 2015, submitted a listing application to the Hong Kong Stock Exchange on February 11 after withdrawing its prospectus for a US offering, officially sprinting toward an IPO. The joint sponsors are JPMorgan, CMBI, and Huatai International. As of September 30, 2020, Nayuki had established 420 stores across 61 cities nationwide and expanded to Hong Kong and Japan. However, while the number of stores has grown nearly tenfold in the past three years, the company remains in a loss-making state, with a loss of 27.51 million yuan in the first three quarters of 2020. The funds raised this time will be used for store expansion, digital operations, and supply chain development. If the listing succeeds, Nayuki will become the first new-style tea beverage stock in China. [more…]

On July 14, Nayuki suddenly announced the removal of its virtual stock membership campaign, sparking widespread attention. The campaign allowed users to earn Nayuki coins through purchases and to buy and sell virtual stocks linked to the real share price, even supporting leveraged trading. Within just hours of launch, it was mired in controversy, with netizens questioning its legality. Industry experts pointed out that Nayuki coins are essentially consumption points and have not yet crossed legal red lines, but the model is aggressive and should not be simply imitated. At the same time, Nayuki's frequent food safety issues have also led consumers to question its marketing strategy. This article will sort out the course of the incident, the legal controversy, and the brand's hidden concerns. [more…]

As competition in the new-style tea beverage sector reaches a fever pitch, Nayuki was the first to list on the capital market, claiming the title of "the first stock of new-style tea drinks" and was once regarded as an industry benchmark. Recently, however, a consumer in Shanghai discovered raw dough that could stretch into strings in a durian bread purchased from Nayuki via delivery. The store explained it as "baked relatively soft," and the refund request was also rejected. This incident quickly fermented on social platforms and once again brought Nayuki's past food safety issues back into the public eye—from expired milk and rotten fruit to chaotic kitchen practices, what has happened to this brand with a halo over its head? [more…]

Nayuki Tea recently quietly changed its store signage at a new outlet in Nanning, Guangxi, with the original "奈雪の茶" becoming "奈雪的茶," and the English logo also changing from NAYUKI to the pinyin NAIXUE. The company officially responded that this is an upgrade move for the brand's seventh anniversary and will be rolled out gradually nationwide. This new tea beverage brand, founded in Shenzhen in 2015 and listed in Hong Kong in 2021, is turning a new page in its eight-year brand history through a visual rebranding that removes Japanese-style elements. Since June this year, its parent company has intensively applied for multiple NAIXUE trademarks, and the signage replacement work at nearly a thousand directly operated stores nationwide has already begun. [more…]

On the first anniversary of Nayuki's listing on the Hong Kong Stock Exchange, it launched a virtual stock game for its 50 million members. Consumers earn 1 Nayuki Coin for every 1 yuan spent, which can be used to buy and sell virtual stocks tied to the rise and fall of real Hong Kong stocks, and even supports leverage of 2x to 10x. Nayuki Coins can also be redeemed for cash coupons, discount vouchers, and merchandise; a MacBook Air requires 200,000 Nayuki Coins. This move has sparked huge controversy. Some lawyers point out that it is essentially a non-circulating token, but the virtual stock trading and leveraged gameplay may involve financial risks such as illegal fundraising. Meanwhile, Nayuki's Hong Kong stock price has fallen all the way from its issue price of HK$19.8, closing at only HK$6.65 on the first anniversary of its listing, a drop of more than 60%. [more…]

On Chinese New Year's Eve, Nayuki submitted a prospectus to the Hong Kong Stock Exchange. This premium freshly made tea beverage brand, centered on "fruit tea + soft European bread," has completed five rounds of financing and is now valued at nearly RMB 13 billion. However, behind the glossy listing process, its 2020 net profit margin was only 0.2%, with net profit of just RMB 4.484 million, raising concerns about the cost pressures and profitability shortcomings brought by rapid expansion. Can Nayuki leverage its listing to become a dark horse in the new-style tea beverage track? This article will sort through the valuation, membership system, store expansion, financial data, and industry views for you one by one. [more…]

Recently, a netizen discovered a Chinese menu at a Nai Xue Tea Academy in Guangzhou, featuring exquisite morning tea dim sum and regional specialty dishes, which sparked widespread attention. Nai Xue Tea Academy is a brand under Nai Xue that focuses on the Chinese tea experience. It just opened its first Guangzhou store last month, also its sixth location and first step outside Shenzhen. The "Nai Xue Chinese restaurant" referred to by netizens is actually a Cantonese fusion cuisine space created by the store in partnership with Zhen·Songshan, allowing customers to dine while enjoying tea. However, the pricing and culinary positioning of the dishes have sparked controversy, with some consumers finding the value for money insufficient, while others pointed out that dishes such as crab roe-stuffed orange seem more like Jiangsu-Zhejiang cuisine. Against the backdrop of Nai Xue withdrawing from multiple locations, whether this cross-industry attempt will be accepted by the market remains to be seen. [more…]

Nayuki recently issued a profit warning, expecting revenue of approximately 2.4 to 2.7 billion yuan in the first half of 2024, with an adjusted net loss of approximately 420 to 490 million yuan. Facing weak consumer demand and limited room for cost optimization, this tea beverage brand once known for its high-end image is planning to close underperforming stores to cut losses and survive. It is worth noting that Nayuki's performance slowdown stems not only from the market environment but is also closely related to its own business strategy—store expansion has lagged severely, its high-end positioning has constrained its push into lower-tier markets, and price cuts have led to declining quality and loss of fans. This article will delve into the challenges Nayuki currently faces and whether it can reverse its brand crisis through measures such as overseas expansion. [more…]

Nayuki, once hailed as the "first stock of new-style tea drinks," has delivered a less-than-stellar half-year report card: revenue dipped slightly year-on-year, and after adjustments, it swung from profit to loss. Facing multiple pressures—questions over price cuts, the impact of the pandemic, and competition from peers—Nayuki has begun setting its sights on the coffee track, seeking new growth points by investing in brands like AOKKA. Meanwhile, brands such as Heytea and Chayan Yuese are also making their own moves to save themselves. Is the collective push by new tea drink brands into coffee a move of desperation or a new trend? This article reviews Nayuki's latest performance and investment moves, and takes stock of the self-rescue paths within the industry. [more…]

Nayuki Tea has once again been thrust into the spotlight due to food safety issues. The Market Supervision Administration of Jing'an District, Shanghai, recently imposed a penalty on Nayuki's Shanghai Meilongzhen Plaza store for selling expired grape-flavored cakes to consumers, with a fine of 50,000 yuan. This is not an isolated case—since its listing on the Hong Kong Stock Exchange in June this year, Nayuki's stores have repeatedly been exposed for food safety scandals such as cockroach infestations, spoiled fruit, and excessive bacterial counts. Consequently, its stock price has plummeted from the issue price of HKD 19.80 to around HKD 9, leading to a significant drop in market value. From being the "first stock of new-style tea drinks" to being plagued by negative news, Nayuki's brand reputation is facing a severe test. [more…]

The largest flagship store "Nayuki Life," created by Nayuki in Shenzhen Coastal City, has recently been obscured by hoarding, confirming that it has quietly withdrawn, and the original site will be taken over by Pop Mart. The store was formerly the world's largest flagship store "Nayuki Dream Factory," launched in 2019 at a cost of 20 million yuan, covering 1,000 square meters and offering a diverse range of products including baked goods, tea drinks, coffee, craft beer, Western cuisine, and retail. After the Dream Factory closed in May 2022, "Nayuki Life" debuted in August of the same year with a new model. Although it retained a bookstore and coffee brand collaboration, it canceled food and alcohol services. Nearby residents reported that the store did brisk business on weekdays and was packed on holidays, and its sudden closure has surprised many. Official customer service responded that the lease expired and was not renewed, and there is no news yet on whether a store will be opened at another location. Meanwhile, reports of Nayuki store closures have also emerged in Guangzhou, Zhuhai, Nanchang, and other places. [more…]

Recently, many netizens have noticed that Nayuki stores in their cities have quietly closed down. From Quzhou to Pingdingshan, Pingxiang, Zhangjiagang, and other places, what were once the only stores have successively withdrawn. Data shows that Nayuki has closed 85 stores in the past 90 days, triggering consumer concerns about the handling of recharge funds and the brand's future. Some attribute this to rising rents and profit pressure, while others point out that Nayuki lacks a representative product. In the face of store contraction, Nayuki is still expanding into Southeast Asia and reviving its bakery business, attempting to turn the situation around. As coffee enthusiasts, Front Street Coffee pays attention to every change in the tea beverage and coffee markets. This article will take you through the story and users' voices behind Nayuki's store closure wave. [more…]

This October, "Duck Shit Aroma" milk tea sparked a craze on social media, bringing Chaoshan's Phoenix Dancong tea into the public eye. After Nayuki's Tea seized the trend by launching a Duck Shit Aroma beverage, it then applied to register the trademark "Nayuki Duck Shit Aroma," triggering heated discussion online. Supporters see this as a differentiated brand strategy, while opponents question whether a famous regional tea should be monopolized by a company. In fact, tea beverage brands such as Uncle Qiu had long made Duck Shit Aroma a standard tea base—so is tying a niche ingredient to a commercial brand reasonable? This article walks you through the whole incident and explores the boundary between innovation in the tea beverage industry and trademark protection. [more…]

The new-style tea beverage market has been stirring recently. High-end brands Heytea and Nayuki have successively announced price cuts, with the lowest dropping to 9 yuan. Nayuki launched a "Relax" series priced at 9-19 yuan, promising to launch at least one "single-digit" product every month, while Heytea announced it will not raise prices this year. Consumer reactions have been mixed, with some cheering and others questioning reduced cup sizes and lower quality. This article reviews the price-cut moves of the two major brands, netizen feedback, and industry data, analyzes the consumption trends and market logic behind the involution in new-style tea beverages, and includes related news about Front Street Coffee. [more…]

In recent years, the national trend has been on the rise, and local cultural elements have become increasingly common in consumer brands. As a leading brand in the new-style tea beverage sector, Nayuki has abandoned its former Japanese-leaning brand image and transformed Nayuki Dream Factory into an opera space full of Chinese charm, launching more than 20 new Chinese-style pastries represented by mochi and palmiers, with each product corresponding to a classic opera such as The Drunken Concubine, The Peony Pavilion, and Farewell My Concubine. The store also displays traditional theater merchandise such as covered bowls and folding fans, creating an atmosphere of stepping into a traditional opera garden. Previously, Heytea also launched Axi Teahouse incorporating Sichuan opera elements. Against the backdrop of widespread price increases in the tea beverage industry, Heytea attracted market attention with a low price of nine yuan, and whether Nayuki's move into the national-trend pastry track can break through is worth continued attention. [more…]

Valentine's Day has always been a key moment for tea and coffee brands to compete for attention, and Nayuki's Tea took the opportunity this year to launch rose-themed limited-edition products, including the Mountain Wild Treasure Tea series and two cute merchandise items. However, after the new products hit the market, they unexpectedly flopped. Many consumers reported that the drinks tasted strange and were hard to swallow, and some even experienced palpitations and an inability to sleep all night after drinking them. What exactly went wrong with this rose milk tea? Was it a mistake in flavor formulation, or was there something hidden in the caffeine content? This article will walk you through the real feedback on Nayuki's Valentine's Day new products and explore why netizens jokingly called it the "new king of insomnia." [more…]

Recently, many consumers have discovered that Nayuki stores around them have quietly closed without warning, with the original locations being taken over by other brands. Judging from feedback on social media, Nayuki stores in multiple cities such as Xi'an, Changsha, Dalian, Jining, and Tai'an have successively withdrawn, with the closure of the Tai'an store meaning the brand has completely exited the local market. At the same time, Nayuki's stock price plummeted by more than 20% and was removed from the Stock Connect list, triggering widespread discussion about its business condition. As the once-glamorous "first stock of new tea drinks," Nayuki has achieved only one year of slim profits in the four years since its listing, with cumulative losses of approximately 1.465 billion to 1.555 billion yuan. Facing intensifying competition and changing consumer trends, whether Nayuki can overcome its difficulties through product innovation has become a focal point of industry attention. [more…]