- Project signals deeper investment in operations and supply chain in core city
- New site tied to revenue targets following strong post-IPO performance
Chinese tea chain Goodme (古茗) is moving ahead with plans for a new headquarters in Hangzhou, as the fast-growing beverage brand steps up investment in infrastructure to support expansion.
Design details for the project were recently disclosed, showing a landmark 34-story office tower in Qianjiang Century City, a central business district in the eastern Chinese tech hub.
The building is expected to rise about 182 meters with a total floor area of roughly 110,000 square meters.
Construction is expected to begin in the second quarter of 2026, after a 13-month post-transfer period, with a 36-month build timeline and completion slated for the first half of 2030. Planning work has already been finalized.
The development follows the company’s purchase of the site for 455 million yuan ($66.7 million) in January and is slated to enter construction in the second quarter of 2026, with completion targeted for the first half of 2030.
The headquarters is intended to serve as a centralized operations hub, supporting management, coordination and long-term growth, according to company filings.
To strengthen supply chain capabilities, Goodme has been expanding its physical footprint beyond retail, including a dual-headquarters strategy spanning Hangzhou and Taizhou, where the brand originated in 2010, as well as a raw materials production base in Zhuji, a county-level city adjacent to Shaoxing.
The company’s investment in Hangzhou reflects a broader push to consolidate its presence in the Yangtze River Delta and enhance digital management and logistics coordination, thanks to Hangzhou’s deep pool of digital talent.
Under an agreement tied to the Qianjiang Century City project, Goodme is required to generate annual revenue within the district ranging from 1.7 billion yuan to 2.3 billion yuan between 2026 and 2030, including specified contributions from service-related income.
The expansion comes after strong earnings performance following its Hong Kong listing in February 2025. Goodme reported revenue of about 12.9 billion yuan for the year, up 46.9%, with adjusted profit rising 66.9% to 2.58 billion yuan.
Shares dipped 0.66% to HK$26.98 as of April 15, giving the company a market capitalization of roughly HK$64.2 billion.
