Healthcare Brand Meriwel Founder Yaw Foo Hoe Branches Out Into Competitive Bubble Tea Market in Cambodia
PHNOM PENH, CAMBODIA / ACCESSWIRE / June 9, 2021 / Yaw Foo Hoe, Malaysian founder of health and wellness brand Meriwel, will expand into the bubble tea business with a launch in Cambodia this month. Yaw Foo Hoe's latest news was announced at the company's annual company conference. It will launch the MeriTea brand with one store in Phnom Penh with more to follow by the last quarter of the year.
"We are excited by the on-going demand for bubble tea. With our strong foundation in the health and wellness industry we feel confident that our venture into bubble tea is a synergistic one," said Yaw Foo Hoe, founder and CEO of Meriwel.
Yaw Foo Hoe also announced that the MeriTea bubble tea brand is a joint-venture between food and beverage company GCG Asia. With manufacturing facilities in Malaysia, Singapore and Indonesia, GCG Asia is one of South East Asia's leading OEM beverages manufacturers. "We are proud to venture into this new segment in the beverage sector. I'm excited to see the outcome for this new partnership," said GCG Asia's founder Dato Sri Lim Chuan Lai.
Yaw Foo Hoe founded Meriwel together with his wife in 2008 in Malaysia with a single product of health supplements. Over a decade later, the company is a diversified health and wellness products and services company with a slew of products ranging from health foods to a chain of wellness spa chains led by Yaw Foo Hoe's wife, Debbie Chew.
Yaw Foo Hoe sees the expansion into bubble tea as an opportunity for cross-marketing to the lucrative youth segment. "The younger demographic groups in particular are enthusiastically embracing bubble tea as their beverage of choice. It's a trend that doesn't seem to be fading. Today's youth are health conscious but still want to indulge from time to time. We are perfectly positioned to offer the opportunity to do both with MeriTea," said Meriwel CEO, Yaw Foo Hoe.
Meriwel and Yaw Foo Hoe will make a capital investment of around USD20 million to establish MeriTea and its first outlet in Cambodia. The company plans to cross-market and sell its health products in its stores, and offer flavours and ingredients that will appeal to a health-conscious customer looking for something different such as its range of gojiberry tea and hand creams. It will offer an immersive experience through real-world distribution.
'Our marketing and positioning fits the demands of the younger generation. So when we develop products, we have to cater to their needs. They want both fun and health at the same time," explained Yaw Foo Hoe.
The bubble tea market is poised to grow at a CAGR of 7% to 10% by some forecasts, amounting to a total of USD 941.72 million. The largest market share at 37% of the market's growth will originate from the Asia Pacific region. The Cambodian market is competitive with Thai, Taiwanese and Korean brands already having a foothold. Meriwel already has a presence in the country with the establishment of Meriwel Co-founder and Yaw Foo Hoe's wife, Debbie Chew's chain of wellness spas in 2019.
Yaw Foo Hoe isn't daunted. With a straightforward business modal, entering the fast-growing category of bubble tea makes MeriTea a compelling franchise investment opportunity. "We welcome new franchisees as we continue to expand our footprint in key markets around the region such as Malaysia, and Singapore," said CEO Yaw Foo Hoe.
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'As with every product within the Meriwel group, safety and quality is embedded into our culture through training, awareness, standards, testing, and globally recognized certifications. It is our privilege to offer the Cambodian people a taste of the health-boosting benefits of our MeriTea bubble tea,' said Yaw Foo Hoe of Meriwel.
In addition to establishing its market presence in Cambodia, Yaw Foo Hoe explains that Meriwel will also be expanding its offering of health and wellness products, continuing the company's well-known product innovation. This will include the introduction of its range of supplements, cosmeceutical products and line of cosmetics in Indonesia and Cambodia in late 2021.
Company information
Meriwel is a leading South-East Asian health and wellness company established since 2008 led by Yaw Foo Hoe. For more information: Visit Rev Access
Company: Meriwel
Address: Phnom Penh, Cambodia
Email: revaccess@emailme.cloud
Website: Rev Access
SOURCE: Meriwel
