Agency to Launch Licensing Program for America’s #1 Bubble Tea Brand
The international brand licensing agency is celebrating a bubbly new partnership with bubble tea giant Kung Fu Tea.
Cronus Global will be representing Kung Fu Tea for food, beverage, and lifestyle licensing across all consumer products categories.
The partnership is intended to tap into the growing, $2.7 billion global bubble milk tea market by leveraging Kung Fu Tea’s signature flavors like Kung Fu Tea Milk Tea, Cocoa Cream Wow, and Taro Slush within the food & beverage sector, while developing licensed lifestyle products catering to the chain’s dedicated fan base and bubble tea enthusiasts everywhere.
With over 370 locations in 38 states, Kung Fu Tea was awarded “Fastest Growing Franchises” by Entrepreneur Magazine and named Yelp’s top 3 most loved brands in 2023.
The bubble tea chain has amassed 400K followers on Instagram, 285K followers on TikTok and generates 4.7M monthly impressions on both channels combined. A further indication of Kung Fu Tea’s success is the 2M downloads of the company’s app.
“We’ve had numerous requests for Kung Fu Tea-branded lifestyle merchandise from our fans via social media and through our app,” says Matthew Poveromo, Marketing Manager for Kung Fu Tea. “We also think the infusion of our signature bubble tea flavors into other foods and beverages will create unique and delicious-tasting product combinations like matcha green tea ice cream or brown sugar waffles.
“Our partnership with Cronus Global allows us to expand our licensed footprint and find new and creative outlets in which consumers can engage with and experience the Kung Fu Tea brand,” Poveromo added.
Kung Fu Tea is an American company founded in Queens, NY, in 2010, as a made-to-order bubble tea company. The company has already enjoyed phenomenal success over the past 13 years, with over 370 locations across the U.S.
Bubble tea (also known as pearl milk tea, boba milk tea, or simply boba), is a Taiwanese drink that mixes tea with milk and fruit, with the addition of the chewy tapioca balls that make it such a unique beverage. Bubble tea has exploded in popularity around the world over the past decade, and Kung Fu Tea has emerged as the industry leader in the United States.
A major reason for that success is that at Kung Fu Tea, each beverage is freshly handcrafted with authentic, high-quality ingredients. The brand’s founders, baristas, and customers are known as ‘Kung Fu Masters’ — passionate, dedicated, and fearless in changing the face of the beverage industry.
According to Future Market Insights, that growth is expected to continue, and even accelerate. The bubble tea market is anticipated to reach a high of $6.17 billion in 2033, with demand driven by Gen Z and Millennial purchases, support on social media channels like TikTok, and celebrity endorsements.
The U.S. is projected to dominate the market with a growth rate of 12.4%. Bloomberg reports that the tapioca balls, commonly referred to as “Boba” in bubble tea, are now the US’s largest food import from Taiwan.
“Kung Fu Tea is the dominant brand in the rapidly growing U.S. bubble tea market due to its exceptional tasting bubble teas and outstanding customer service,” says Cronus Global president Kristin Calzada. “We see a chance to bring Kung Fu Tea’s signature drink flavors to other categories within the food and beverage aisle and also fill the gap in demand for lifestyle products like candles and scent-based items using the sweet, unique, and calming scents associated with Kung Fu Tea’s popular line-up of bubble teas.”
Kung Fu Tea is now tapping into Cronus Global’s expertise to grow its market in other verticals. The agency is known for delivering targeted business materials like customized product pitches, and tapping into white-space categories to increase licensing opportunities for its clients.
Cronus Global typically works to put together an effective mix of collaborations, product licensing, brand partnerships, and direct-to-retail initiatives, so it’s clients are able to achieve optimal exposure for their brands while maximizing consumer touchpoints. The company is headquartered in the Los Angeles, CA area.
To learn more about Cronus Global, visit https://www.cronusglobal.com/.
To explore licensing opportunities with Kung Fu Tea, contact Cronus Global through their contact page: https://www.cronusglobal.com/contact.
An Interview with Geoffrey Wasserman, Co-Founder of the American Bubble Company