Urban Tea Announces Grand Opening of First Overseas Tea House in New York City on August 1, 2020
Urban Tea Inc. (NASDAQ: MYT) will open its first overseas tea house, MENO, on August 1, 2020, in Manhattan, New York City. This opening is part of the company's international expansion strategy. MENO will offer an array of specialty teas, coffees, juices, and light meals inspired by their 'Buoyance Manor' stores in China. The 15-seat venue will provide takeout and delivery options through various platforms. CEO Long Yi emphasized MENO's aim to create a serene environment for customers amidst the city's fast pace.
- Opening of first overseas location in New York City, enhancing brand visibility.
- Diverse menu featuring unique offerings such as Dark teas and Cheese Foam Fruit Teas.
- Takeout and delivery options expand customer reach and convenience.
- Potential operational risks due to COVID-19 uncertainties.
- Market competition in New York’s saturated beverage industry.
CHANGSHA, China, July 31, 2020 /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, today announced the date of the grand opening of MENO, a specialty tea and coffee house, in West Village near Washington Square Park in Manhattan, New York City. The grand opening will take place on Saturday August 1st, 2020. MENO's opening will mark the arrival of the Company's first overseas tea house, bringing New Yorkers a variety of specialty teas, coffees, juices, other drinks and light snacks/meals.
"We are excited to celebrate the opening of our first overseas tea house MENO, as part of our international expansion plan," said Long Yi, Chief Executive Officer of Urban Tea. "In the fast-paced New York City, MENO aims to provide a sanctuary for guests to take a rest, slow down, and truly appreciate the simple pleasures found in a cup of tea or coffee."
MENO is designed as a quaint and stylish space, decorated with modern and traditional Asian styles. It is bathed in white and includes light wood-style seating and small tables. MENO has a 15-seat capacity and currently planned to be open from Tuesday to Sunday from 9 a.m. to 8 p.m. EST. Takeout and delivery options will be available via delivery platforms such as GrubHub, UberEats, HungryPanda and ChowBus.
All the items found on the menu are inspired by the tea and coffee products of our "Buoyance Manor" stores in China, customized to fit the New Yorkers' palate and aesthetic. The menu offers Coffee Meets Juice, a one of a kind, curious and delicious mixture of different freshly squeezed juices and coffee; Dark teas, MENO's absolute specialty, are one of the most ancient types of teas from China and are rarely found in New York City. The teas, which can be served hot or cold, have undergone microbial fermentation for up to eight years; Fresh Milk Teas, served hot or cold and made with organic whole milk, come in three varieties including peach-flavored oolong tea, honey-flavored black tea, and Jasmine-flavored green tea; Cheese Foam Fruit Teas are served cold and made with fruit slushies and fine green tea, topped with a frothy layer of milk and cream cheese, and sprinkled with salt for a sweet and savory sip; Coffees are also spotlighted, using premier blends from Counter Culture Coffee with options such as Espressos, Americanos, Lattes, Cappuccinos, Iced Americanos and Iced Lattes.
Additionally, a small curated food menu is also provided as the perfect complement to the beverages with savory choices like Smoked Chicken Breast Salads and Beef Bologna Sandwiches.
MENO will be located at 218 Thompson Street, New York, NY 10012. Follow @meno_newyork on Instagram for more information.
About Urban Tea, Inc.
Urban Tea, Inc. is an emerging specialty tea product distributer and retailer headquartered in Changsha City, Hunan Province, China. Through its wholly owned subsidiary, Mingyuntang (Shanghai) Tea Limited which controls Hunan Ming Yun Tang Brand Management Co., Ltd. and Hunan 39 Pu Tea Co., Ltd., the Company currently market a wide range of trendy tea drinks, light meals, and pastries targeting the new urban generation. Our products are focused on not only their taste but also their aesthetic presentation and health benefits. Our products are currently being offered via our own stores. For more information, please visit: http://ir.h-n-myt.com/investor.
Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, the demand for the Company's products, supply chains, New York City's regulation of restaurants, and economic activity in general. These and other risks and uncertainties are detailed in the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE Urban Tea Inc.
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