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According to Red Star Capital Bureau on July 16, regarding the media reports that former Starbucks Vice President Li Tao joined Bawang Cha Ji in the first half of this year, Bawang Cha Ji’s people told Red Star Capital Bureau that they have not found Li Tao and have not met him in any occasion. If he is the vice president, he should have met him in a meeting in theory. Another Bawang Cha Ji person also said that they have not heard of Li Tao internally.

A person close to Starbucks told Red Star Capital that he heard from partners at headquarters that Li Tao was a previous partner.

Regarding the media reports that Bawang Cha Ji has recently recruited a large number of people in the industry - from the headquarters to various branches, mostly Starbucks and Tims, and in brand marketing, it has poached people from Xiaohongshu, Huawei and other companies. Bawang Cha Ji told Red Star Capital Bureau that the company currently has no bias in recruiting, and it mainly depends on the degree of fit.

Bawang Chaji is rapidly expanding in 2024. In May, Bawang Chaji revealed that its GMV (merchandising sales) in 2023 was 10.8 billion yuan, and its GMV in the first quarter of 2024 was 5.8 billion yuan, which is more than half of the sales for the whole year of 2023. Founder Zhang Junjie also said that the goal for 2024 is to exceed Starbucks China in sales in China.

Red Star News reporter Cheng Luyang

Editor: Xiao Ziqi