Founder behind Chinese bike-sharing startup Ofo starts over in NYC
The limited edition Purple Rain cold beverage arranged at About Time Coffee in New York, US, on Tuesday, May 9, 2023. — In February last year, a tiny coffee store with red neon signs opened at Gramercy Park, one of the most idyllic neighborhoods in New York City. The shop, labeled, soon spawned four other prime locations in downtown Manhattan, peddling iced boba coffee that’s suddenly a trend on TikTok and Instagram.
“We have a proven model from China,” About Time Chief Executive Officer Marian Chen said in an interview. “We sell coffee that tastes better but is cheaper than Starbucks.” The aggressive pricing appears to be winning over younger customers. On a recent Thursday afternoon, at least seven students from the nearby Baruch College hit the Gramercy store in 15 minutes.
Some American consumers have grown wary of tech-focused coffee companies that are fast altering the streetscape. Brooklyn-based Blank Street Coffee, backed by General Catalyst Partners and Tiger Global Management, has exploded into dozens of locations in New York City two years since its inception.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Founder of Kim San Leng coffee shop chain died of haemorrhage after liver biopsy: CoronerSINGAPORE: The founder of Singapore's Kim San Leng chain of coffee shops died of a massive haemorrhage after a liver biopsy, contributed by advanced lymphoma, a coroner has found. Mr Hoon Thing Leong, known also as the “coffee shop king”, died on Apr 29, 2021, at the Singapore General Hospital. He was
Read more »
As China re-opens, ‘old friends’ from Singapore get a head start in resuming tiesSINGAPORE/BEIJING – A month before China resumed issuing all visas to foreigners on March 15, Singaporean businessman Tony Du received an invitation to visit the country from the Sichuan provincial government’s overseas Chinese affairs office. Read more at straitstimes.com.
Read more »
DPM Lawrence Wong kicks off China visit in ShanghaiThe trip, his first to China as Singapore’s No. 2 leader, gives him the opportunity to establish ties with the new Chinese leadership. Read more at straitstimes.com.
Read more »
More Taiwan electronics makers diversifying away from China to VietnamIn the first quarter of 2023, investments in Vietnam by the island's manufacturing industries grew more than 35% year-on-year. Read more at straitstimes.com.
Read more »
Asian shares braced for China data, Fed speakersSYDNEY : Asian stocks started cautiously on Monday as investors braced for a China policy rate decision and economic data this week, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year. Early action was sluggish following a report on Friday s
Read more »
China central bank rolls over medium-term policy loans, rate unchangedSHANGHAI/SINGAPORE : China's central bank rolled over maturing medium-term policy loans while keeping interest rates unchanged on Monday, matching market expectations.The People's Bank of China (PBOC) said it was keeping the rate on 125 billion yuan ($18.08 billion) worth of one-year medium-term lending f
Read more »