gongcha, the world’s leading bubble tea brand, announces the appointment of new global CEO, Paul Reynish, marking the acceleration of the company’s rapid expansion in the United States and internationally. Reynish succeeds outgoing Acting Global CEO, Gong cha Founder and Chairman, Martin Berry, and took over on July 15, 2022. Berry will remain in his role as Gong cha Chairman. Based at Gong cha’s London headquarters, Reynish brings over 25 years of international executive leadership experience at the world’s largest food and beverage franchises, including Dunkin’, Subway, Burger King and Five Guys.
“Paul’s extensive experience in global franchise operations, his proven track record and his passion for the Gong cha brand make him the ideal leader to build on the momentum we have created over the past few years. “Berry said. “We are confident that his guidance and insights will help us continue to position Gong cha as the undisputed category leader in the competitive global bubble tea market.”
Over the course of his career, Reynish has demonstrated an exceptional track record of business growth and marketing in Europe, Asia-Pacific, Latin America and North America. Most recently, Reynish was President and CEO of Five Guys International Restaurants, where he oversaw the brand’s expansion, opening in 11 countries within three years. Previously, he was marketing director for Dunkin’ Brands in Boston and vice president of commercial for Dunkin’ Brands in Japan, where he managed more than 5,000 stores in the Asia-Pacific region. Previously, Reynish was CEO of International Franchises for Subway, the world’s largest food and beverage franchise, and also held several global leadership positions for Burger King in Europe, Asia, Australia and New Zealand. . Additionally, he was a board member of Baskin Robbins Japan and Korea for several years.
“I am very happy to join the Gong cha team,” said Reynish. “Bubble tea is a rapidly growing industry, and with its scalable business model, innovative master franchise program and talented management team, I believe Gong cha is uniquely positioned to become one of the biggest brands franchises in the world.”
Bubble tea is a growing category in the beverage and fast food space. According to a detail industry analysis by Grand View Research, the global bubble tea market size is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2020 to 2027, and nearly double the forecast revenue – of $2.32 billion in 2020 to $4.25 billion by 2027 – with Gong cha at the forefront of this expansion.
Despite the COVID-19 pandemic and global economic conditions, Gong cha recorded double-digit sales growth in the majority of its markets worldwide in the first quarter of 2022, and the total number of stores increased to nearly 1 800 locations in 22 countries. Globally, Gong cha’s store count grew by 17% year-on-year from 2020 to 2021.
In the United States, annual store growth has nearly tripled since 2018, and 2021 openings have more than doubled from 2019 and 2020. Gong cha is preparing to open its first five company-owned U.S. stores in the Chicagoland area in 2022, with the long-term goal of opening more than 50 in downtown Chicago and surrounding suburbs. Gong cha currently has over 160 stores in 14 states and Washington, D.C., and is expected to reach 200 stores in 18 states by the end of 2022. The brand is on track to exceed 500 stores in the United States by 2025.
To fuel its aggressive growth targets, Gong cha uses innovative technology master franchise model which allows seasoned entrepreneurs with enterprise-level experience to develop a large territory. Principals in each territory are building a dynamic network of sub-franchisees, opening the door to entrepreneurship for individuals who dream of owning a business. So far in 2022, Gong cha has signed three new master franchisees in the United States, awarding territorial rights for the states of Louisiana, Colorado and Michigan. Together, these deals alone are expected to grow the brand’s presence in the United States by an additional 60 stores over a five-year period.
Gong cha’s success can be attributed to the brand’s commitment to superior quality, a simple and scalable operating model, strong corporate support for franchisees, and its master franchise model. Gong cha welcomes seasoned entrepreneurs into its master franchisee family and actively seeks other master franchisees and sub-franchisees to continue its rapid growth across the United States. For more information on these opportunities, please visit https://gongchafranchising.com/.
ABOUT GONG CHA
Founded in Taiwan in 1996, Gong cha is the world’s leading bubble tea brand. Its commitment to quality begins with its name: “Gong cha” means to offer the emperor the best tea from all his possessions. From the most seasoned bubble tea connoisseur to the beginner, Gong cha offers customers the ability to customize their drink to their exact specifications, without ever sacrificing flavor or technique. With nearly 1,800 stores in 22 countries around the world, it is also one of the fastest growing bubble tea brands, attracting entrepreneurs from around the world to its lucrative industry. franchise program. Gong cha was ranked #1 in the Tea category on Entrepreneurthe prestigious Franchise 500® list of (2022); selected as a finalist for Franchise hours‘ list of the best beverage franchises to buy (2022); and selected as a finalist for one of the top 10 global food and beverage franchises by the Global Franchise Awards (2022). To learn more, please visit gong-cha.com.