Urban Tea Inc. Announces Strategic Plan to Develop Tea Beverage Market
Urban Tea, Inc. - Ordinary Shares (MYT)
Company Research
Source: PR Newswire
CHANGSHA, China, May 8, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (NASDAQ: MYT), a premier retailer of specialty teas and baked goods in China, announced today its strategic plan to develop its market in the tea beverage industry.In October 2018, Urban Tea, Inc established its subsidiary Shanghai Ming Yun Tang Tea Limited in China, which controls Hunan Ming Yun Tang Brand Management Co., Ltd. ("Hunan MYT") via a series of contractual agreements. Hunan MYT is a limited liability company which focuses on catering, and involves health, training, retail, wholesale and other fields. Headquartered in the Changsha Xingingmen Fanchen International Center, Hunan MYT integrates brand strategic positioning, offline operation, store management and brand marketing. Currently, Hunan MYT offers tea drinks, light meals, and pastries as its three lines of products.Pastries include sweet bread, Danish pastries, whole wheat bread, hard bread, toast, silk cake, mousse cake,
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