Mixue Bingcheng, the Chinese milk tea and ice cream brand, has officially dethroned McDonald’s as the world’s largest food and beverage chain by store count.
As of September 2024, Mixue operates over 45,000 locations worldwide, outpacing McDonald’s 43,000 locations. Despite its dominance, the majority of Mixue’s stores—nearly 90 percent—are in China.
While Mixue Bingcheng is still relatively unknown in the United States, it made waves recently with a strong debut on the Hong Kong stock market, raising about $444 million.
The chain’s success is attributed to its ability to keep prices low, making it popular among students. For instance, its Signature King Cone ice cream is priced at just $1.10, a strategy that ensures high foot traffic and brand loyalty.
Though Mixue Bingcheng has yet to expand into the U.S., its rapid growth and cost-effective model suggest it could soon be a global competitor in the food and beverage space.
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