# New-Style Tea

The Bitter Aftertaste of Luxury: Nayuki’s Struggle to Reclaim Its Soul in China’s Cutthroat Tea Market

Nayuki, once the leader of China's premium tea market, reported a 240 million RMB loss for 2025, making it the only major listed tea brand in the red. The company is struggling to reconcile its high-cost 'Third Space' retail model and signature bakery offerings with a consumer market that now prioritizes low prices and delivery efficiency.