Founded in 1997 by Zhang Hongchao, a determined student aiming to aid his family's finances, Mixue has grown its presence to over 45,000 stores across China and eleven other countries, including key markets like Singapore and Thailand. It positions itself as China's leading bubble tea, iced drinks, and ice cream purveyor, boasting franchises rather than directly-run locations.
Mixue’s product offerings, which average around six Chinese yuan ($0.82), continue to win over consumers amid challenging economic conditions, such as a property crisis and dwindling consumer confidence in China. This sizable market debut starkly contrasts the less favorable performance of its smaller competitor, Guming, earlier this year. The bubble tea industry’s resilience raises questions about its future sustainability amid evolving economic landscapes.
With plans to expand further, Mixue is set to redefine the global beverage market while providing economic prospects in regions struggling with sluggish growth. Could this mark the dawn of a new era for bubble tea on the world stage?
Mixue’s product offerings, which average around six Chinese yuan ($0.82), continue to win over consumers amid challenging economic conditions, such as a property crisis and dwindling consumer confidence in China. This sizable market debut starkly contrasts the less favorable performance of its smaller competitor, Guming, earlier this year. The bubble tea industry’s resilience raises questions about its future sustainability amid evolving economic landscapes.
With plans to expand further, Mixue is set to redefine the global beverage market while providing economic prospects in regions struggling with sluggish growth. Could this mark the dawn of a new era for bubble tea on the world stage?
