Mixue Bingcheng, the Chinese beverage giant, has officially become the world's largest food and beverage chain by number of outlets, surpassing industry giants Starbucks and McDonald's.
The company's rapid expansion and its ability to cater to the sweet tooth of Southeast Asia have propelled its success, with over 45,000 stores worldwide as of September 2024.
According to Geekspin, this growth has outpaced McDonald's, which operates around 43,000 outlets, and Starbucks, with 40,576 locations globally.
Founded in 1997 in Henan, China, Mixue started as a small shaved ice shop. However, the company quickly grew by capitalizing on the rising demand for affordable bubble tea, ice cream, and coffee drinks.
Mixue's franchise model has been key to its success, with most of its stores run by franchisees. The company provides these outlets with ingredients, equipment, and packaging, creating a highly efficient and scalable business model.
The rapid rise of Mixue is fueled by its affordability. The company offers drinks like bubble tea and ice cream at prices that are significantly lower than its competitors.
For instance, a cup of brown sugar milk tea costs just $1.10, making it one-third cheaper than similar products from Taiwanese tea chain Chatime. An ice cream can be as cheap as 50 cents, undercutting McDonald's in certain markets.
China's Mixue is now the world's biggest food-and-beverage chain by number of locations, surpassing McDonald's. pic.twitter.com/ioVyWNhtl1
— Pop Base (@PopBase) March 5, 2025
Mixue Dominates Southeast Asia with Over 2,600 Outlets in Indonesia
"Even on social media like TikTok, there's a joke that any empty store will soon become a Mixue," said Rahma Yuliana, a regular customer from Indonesia.
She noted that Mixue has already established over 2,600 outlets in her country alone, cementing its dominance in Southeast Asia, AP News said.
In addition to its success in Southeast Asia, Mixue's IPO in Hong Kong marked a major milestone for the brand, with shares surging more than 40% since their March 2024 debut.
This strong financial performance, along with its growing global presence, has made Mixue one of the most exciting companies in the food and beverage sector.
The company's expansion extends beyond just its drinks. Other Chinese food brands, such as Haidilao (a hotpot chain) and Luckin Coffee, have also gained significant traction in the region.
Mixue's success in Southeast Asia demonstrates that Chinese companies are no longer seen only as producers of cheap goods but as powerful players in the global market.
Mixue's founder, Zhang Hongchao, has made affordability a central tenet of the company's business strategy.
His goal of providing quality beverages at low prices has resonated with customers, especially in Southeast Asia's price-sensitive markets.
The company's ability to scale quickly while maintaining low operating costs has allowed it to overtake more established brands like Starbucks and McDonald's.
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