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Xiangpiaopiao Records Outstanding Performance in China’s Milk Tea Sector

In 2019, the sales value of XPP’s beverage products (milk tea and Meco juice tea) exceeded 1 billion RMB (approx. $149.3m), driven by 140% growth (year on year). Instant drink sales grew steadily, accounting for 73.8% of the company's 2.94 billion RMB revenue. XPP made a breakthrough in e-commerce channels in 2019, achieving a sales value of 125 million RMB, an increase of 58.9% compared with the same period in 2018.

Xiangpiaopiao (香飘飘, referred to as XPP after this), a Chinese milk tea brand, was the first company in China to launch reconstitutable milk tea powder packed in cups. This brand has been the No.1 seller in the segment for eight consecutive years, with a market share of more than 60% [1].

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