The Artisan’s Craft and the Capitalist’s Harvest

Gong Cha originated in Taiwan from the meticulous efforts of artisan Wu Zhen-hua, who spent a decade and conducted 23,000 experiments to perfect the brand’s signature milk foam. The business was transformed into a global franchise by Australian banker Martin Berry, who recognized its commercial potential and orchestrated a reverse takeover of the original Taiwanese parent company. Now a London-based entity valued at $2 billion, the brand has evolved from a handcrafted beverage into a high-value global financial asset from which the original founder has largely departed.