Urban Tea Announces its Plan to Open First Store in New York
Urban Tea, Inc. - Ordinary Shares (MYT)
Company Research
Source: PR Newswire
CHANGSHA, China, Nov. 13, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (NASDAQ: MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, announced today that the Company is in the process of opening its first store in New York and is expected to open to the public in early 2020. This store will be operated and managed by the Company's subsidiary Urban Tea Management Inc., which is jointly owned by the Company and its U.S. business partner with a 51% and 49% equity ownership, respectively.Strategically located in the NYU neighborhood at 218 Thompson Street, the store will feature a variety of high quality beverages and light meals expected to delight young customers based on market research and survey of local consumer preference. This first New York store will have a new logo and stylish interior design aiming to attract consumers looking for a trendy and premium experience. The store will offer seven major beverage selections on th
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