Cooler than marijuana? Hong Kong’s iconic Vitasoy drinks brand is on a high thanks to Chinese memes
- The 78-year-old Hong Kong drink maker has suddenly found itself one of the hottest brands among Chinese youth
- The company was founded as a way to fight malnutrition after its founder witnessed the plight of refugees in wartime Hong Kong
Whether it’s “cooler than marijuana”, as suggested by recent internet memes, is a matter of personal taste and probably one best debated in private.
But one thing beyond dispute is that Vitasoy, the 78-year-old Hong Kong drink maker, has all of a sudden found itself one of the hottest brands among China’s young people.
Its iconic lemon tea is so popular in the world’s biggest beverage market that internet users are jokingly comparing the experience of savouring the sweet-and-sour taste to that of smoking marijuana.
In Hong Kong, shares of Vitasoy soared by almost 50 per cent over the course of 2018, a stellar performance against a 14 per cent slump in the broader market.
It’s been a remarkable journey for a company founded in wartime Hong Kong as a way to fight malnutrition after its founder witnessed the plight of refugees.
“It’s decades of work, R&D [research and development], and having operations outside Hong Kong that bore fruit,” said Roberto Guidetti, chief executive of Vitasoy, in an interview.