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Cool Japan Fund has announced a 260 million yen investment ($2.18 million USD) in Green Tea World USA to open high-end green tea cafes in the U.S.
Cool Japan is a public-private fund, founded in November 2013, intended to increase interest globally for Japanese products. Their investment will give them 49.9% stake in the new company. The remaining 50.1% is owned by Maetaku Co., Ltd. (MAEDA-EN, USA’s holding company) and a group of 12 companies from Nagasaki in southern Japan.
The menu will capitalize on the United States’ rising interest in green tea, offering beverages that mirror American preferences like sparkling green tea, matcha espresso and caramel hoji latte. It will also include traditional favorites like sencha and hojicha, Japanese sweets and teaware to spread appreciation of Japanese culture.
The first of the new cafes will open in California later in 2015. Green Tea World USA is looking to have 50 cafes in the next ten years, with a focus on the Californian cities of Los Angeles, San Francisco, and San Jose. Cool Japan has previously invested in restaurant, entertainment and media projects in places like Vietnam, Malaysia and Singapore.
SOURCE: Reuters and Cool Japan Fund