Billions from bubble tea and other success stories from Asia’s beverage moguls
By Clifford Olanday
Feb 02, 2024
COVER Bryan Loo, founder and CEO, Loob Holding
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The business leaders at the helm of Asia’s leading beverage companies satisfy the region’s demand for variety, flavour and inventiveness in drinks
Double caramel smoothies, brown sugar pearl lattés, cream sodas, energy drinks—the business leaders on Asia’s Most Influential are satisfying more than just a basic need; their success comes from answering the demand for variety, flavour and inventiveness in drinks. Behind some of the biggest homegrown beverage companies, they contribute to the projected $60-billion growth of the non-alcoholic beverage sector in Asia this year, which includes a flourishing $3.7-billion bubble-tea sector. These business leaders are also reaching beyond their success in Asia, with their refreshment brands now available in North America and Europe.
ABOVE Thapana Sirivadhanabhakdi, president, Thai Beverage Public Company Limited
Thapana Sirivadhanabhakdi leads Thai Beverage Public Company Limited (ThaiBev), the largest drinks company in Thailand, with over 200 subsidiaries and many popular brands under its belt, including non-alcoholic beverages such as Oishi Green Tea, Est Cola and Crystal drinking water, as well as alcoholic drinks like Grand Royal whisky, Chang beer and Ruang Khao liquor.
To solidify its success throughout the region, ThaiBev has embarked on Passion 2025, a five-year roadmap focused on three goals: build new capabilities by enhancing its business model and product offerings; strengthen its leadership positions in the core markets of Thailand, Vietnam, Myanmar, Singapore and Malaysia; and unlock potential by building partnerships and developing a world-class workforce.
It has been announced that Sirivadhanabhakdi will take on a bigger role in the beverage company, becoming director and group CEO on June 27, 2024.
ABOVE Jian Zhi Guo, executive director, CoCo International
As the executive director of CoCo International, Jian Zhi Guo plans the business strategies of the beverage company behind the global bubble tea brand CoCo Fresh Tea & Juice. Established in Taiwan in 1997, CoCo now offers its drinks beyond Asia, opening stores in North America (in the US and Canada), South America (in Peru) and across Europe (in France, the UK, Sweden and more). Apart from its signature milk tea drinks (taro with sago, Japanese matcha with red beans), it also offers creations with popping pearls, drinks with Yakult, slushies and smoothies
Recognised for its “exceptional quality and spirit of innovation”, CoCo was among the global winners at the World Branding Awards, which was held at Kensington Palace in the UK in 2023. The brand is also committed to the environment, hosting upcycling workshops in Barcelona, installing solar panels in its warehouses and prioritising eco-friendly packaging in its production.
ABOVE Bryan Loo, founder and CEO, Loob Holding
“Thinking outside the box and being forward-thinking is also important. This means exploring new possibilities and opportunities to gain a competitive advantage. By anticipating future trends and adapting strategies accordingly, a good leader can create innovative solutions to meet the needs of their customers,” said Loob Holding CEO Bryan Loo to Tatler.
The businessman continues to drive the success of Tealive, one of the most prevalent bubble tea chains in the region. In 2021, Loo partnered with Creador, selling a 30-per cent stake to the private equity firm to fuel Tealive’s expansion. Now, Tealive operates over 1,000 outlets in Asia and beyond, with stores also in the UK, Canada, Australia and Mauritius. In 2023, the CEO further invested in the brand, opening a tapioca pearl production facility in Selangor that can produce 400 tonnes of pearls per month for Tealive’s production.
Loo completes his beverage empire with more ventures: Bask Bear coffee, sparkling water maker Sodaxpress and kombucha brand Wonderbrew.