Chinese Bubble Tea Giant Mixue Becomes World's Largest Food Chain After Blockbuster IPO

Mixue, known for its budget-friendly drinks and ice cream, saw its shares surge over 40% on its Hong Kong debut, raising $444 million to fuel global expansion.

Mixue now operates over 45,000 outlets worldwide, surpassing McDonald's and Starbucks in store count, with 99% of its locations franchised.
The company's IPO raised $444 million, marking the largest Hong Kong listing of the year, with shares closing 45% above the IPO price on the first trading day.
Mixue's affordability, with menu items priced as low as $1, has driven its success, particularly among cost-conscious consumers in China and other Asian markets.
Founded in 1997 by Zhang Hongchao, the chain's growth has been fueled by its efficient supply chain and focus on lower-tier cities with less competition.
The Zhang brothers, who own a combined 82% stake in Mixue, now have a net worth of $8.1 billion, making them wealthier than former Starbucks CEO Howard Schultz.

South China Morning Post

CNA