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can baba arts limited (532380) maintain its valuation ✌️【Financial Expert】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. What do a sexy Hong Kong icon, a bankrupted entrepreneur and a failed military defense campaign have in common?

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It all went down on an episode of “Dragons’ Den,” a “Shark Tank”-style reality show produced by the CBC in Canada. During the program, two Quebec-based beverage brand owners described bubble tea as a trendy, sugary drink, noting that customers are “never quite sure about its contents.”

Chinese-Canadian Liu, who was appearing as a guest star/potential investor, interjected, “Hang on, hang on. I am quite sure about its content,” letting them continue before proceeding to challenge them on their desire to “make it better.”

But this isn’t the first time bubble tea has been at the center of controversy. In fact, it’s been the subject of great debate for decades.

Invented in the 1980s, bubble tea (also called “black pearl tea” or “boba tea”) is a beloved Taiwan classic. Though there are dozens of different variations, at its core it’s a combination of tea, milk and the “bubbles” – which are essentially little balls made of anything from tapioca to fruit jelly.

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It was a revolutionary invention at that time – not only were cold drinks uncommon, but the idea of consuming food and beverages for pleasure had only begun to grow in post-war Taiwan. In the following years, the island’s passion for tasty cold beverages intensified.

“The trend of tea beverages prospered together with the rise of the leisure food trend in the 1980s as Taiwan was experiencing rapid economic growth,” said Tseng Pin Tsang, a Taiwanese food historian.

“In addition to the industrial pre-packaged tea products, there were more tea shops on the street and tea restaurants in the suburbs.”

In 1986, the late Taiwanese artist and entrepreneur Tu Tsong He decided to kickstart a new business venture by riding on the tea shop trend.

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“I was visiting the Yamuliao wet market in Tainan when I saw fenyuan (tapioca balls), a traditional snack I loved from my childhood,” recalled Tu in an interview with 【 - Free Exclusive Access to Stock Gurus 】 in 2020.

“I thought to myself ‘why don’t I add some fenyuan into my green tea.’ The white fenyuan looks almost translucent with a white center when brewed inside the golden green tea, much like my mother’s pearl necklace.

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“The black bubble tea balls were bigger than the straws the market had then,” said Tu. “Our customers had to use spoons to scoop out the tapioca balls. We had to work with a plastic factory to customize straws just for our tea.”

“Bubble tea soon became a hot-selling item in the market and the steady revenue of the tea shop has helped me clear my debt,” said the businessman.

Hanlin now operates about 80 branches across Taiwan and has franchises everywhere from the United States and Canada to mainland China.

But here’s where things get tricky. Tu wasn’t the only person who claimed to have invented bubble tea.

Lin Hsiu Hui, product manager at bubble tea chainChun Shui Tang, said she created the very first glass of bubble milk tea at a staff meeting in 1988.

“Everyone at the meeting loved the drink and it quickly outsold all of our other iced teas within a couple of months,”Lin told 【 - Free Exclusive Access to Stock Gurus 】 Travelin a previous interview.

Chun Shui Tang staff also claimed the brand was the first to debut foam tea shaken up with a cocktail shaker.

Over the years, the fight for bubble tea supremacy grew heated. A10-year litigationkicked off in 2009. The fight was finally settled in 2019 with a disappointing but friendly ending.

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“We’re all old friends in the tea industry,” commented Tu in 2020. “The lawsuit with Chun Shui Tang is a must-fight battle for truth but nothing personal. We will let the people who drink our tea be the judge.”

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can baba arts limited (532380) maintain its valuation ✌️【Financial Expert】✌️ Free stock market analysis and data updates to help you select the best investment portfolio. Achieve steady growth and avoid losses with expert predictions and real-time market insights. The hawker named the larger black tapioca balls “boba” to differentiate them from the smaller fenyuan normally found in tea shops.

“It also reflects the special mood of Taiwan in that era – the feeling that the society was transitioning from old to new,” he said of the late 1980s.

“It embraces some Taiwanese age-old cultural experiences, with a touch of nostalgic emotion prevailing in this modern society.”

During the process of recreating two traditional staples – fenyuan and tea – society bonded over its shared culture and history, added Tseng.

“Bubble tea is a successful example of recreating a traditional food. It has become a symbol of Taiwanese’s self-confidence and identity.”

In other words, don’t mess with Taiwanese and their bubble tea – a lesson the island’s Defense Ministry learned the hard way.

In 2004, hoping to convince the public that a proposed weapons purchase wasn’t really that costly, the ministry put out a leaflet stating that if Taiwanese would skip one glass of bubble tea per week for the next 15 years, they could save up enough to pay for the military expense.

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Bubble tea chain Easy Way argued in a press conference, “Why don’t you ask people to skip drinking Coke instead?”

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Younger brands have also been experimenting with adding different ingredients (Oreos, strawberries and sponge cakes, for example) into their offerings.

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Bubbleology, for example, is one of the earliest chains in the UK created by a former British investment banker. The founder, Assad Khan, said that he fell in love with the drink after trying it in Chinatown in New York in 2009 and opened his first shop in 2011.

“It was a taro bubble tea and it wasn’t anything like I’d ever tasted. The variation in texture with the tea-based beverage and tapioca balls created a unique hybrid dessert,” Khan told 【 - Free Exclusive Access to Stock Gurus 】 Travel about his first impression of the drinks in an interview back in 2020.

“The best part about bubble tea is its entirely customizable nature – the fact that you can calibrate every part of the drink. You don’t find this with other offerings in the impulse snack category.”

Bubbleology has since expanded beyond the UK to the United States. It’s embraced the customizable nature of the drink, offering a rainbow-colored selection of bubble drinks.

But no matter how funky you get with the recipe, the soul of a good bubble tea has always been, well, the tea.

“We only use top-notch Sri Lankan black tea (grown in Taiwan). It has a smooth fragrance and a great aftertaste,” said the late Tu, who passed away in 2022 at age 73.

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In his last interview with 【 - Free Exclusive Access to Stock Gurus 】, Tu said traveling among the mountains of the island in search of the best possible tea was the most enjoyable part of his job.

“Bubble tea isn’t only the root and the pride of Hanlin, it is also the highlight of Taiwan’s beverage industry,” he said. “It introduces the world to Taiwan. So it is not only important for Hanlin, but Taiwan, too.”

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