Apart from riding the bubble tea wave, ST Group has also capitalised on the global obsession with all things Korean. The group brought the popular Korean chicken wings brand NeNe Chicken to Australia and Malaysia, and saw a positive response in both countries.
(Sept 16): All over Asia, bubble tea — also known as boba tea — stalls are popping up on every corner and long queues are a usual sight. Bubble tea, which consists of tea, milk and toppings such as chewy tapioca pearls, has sparked a craze, with people willing to wait for hours for their favourite drink.
Sensing the potential of bubble tea outside Asia, ST Group Food Industries Holdings brought the well-loved beverage to New Zealand in 2015 and the UK earlier this year. It has a track record of only seven years, but so far, ST Group seems to have a knack for spotting what is hot or going to be in the market. “A key strength of our company is that we are able to identify new trends,” says executive chairman and CEO Saw Tatt Ghee in an interview with The Edge Singapore.
