A Chinese fast-food brand has taken the crown from McDonald’s and Starbucks. Mixue, a company known for its cheap ice cream and bubble tea, now has more stores than both giants. It has grown fast, spreading across Asia and beyond.
Mixue ended 2024 with 45,000 locations, leaving McDonald’s and Starbucks behind. Its success comes from low prices, simple shops, and smart business moves. While many brands struggle, Mixue keeps expanding. The company also made a big splash in the stock market, proving its strength.
How did a bubble tea brand grow faster than the worldโs biggest names? Mixueโs strategy is changing the fast-food game.
How Mixue Surpassed McDonald’s and Starbucks
McDonald’s and Starbucks have dominated the fast-food world for years, but a Chinese brand has raced past them in terms of store count.
Mixue, a company that started with a tiny ice cream shop, now operates 45,000 stores across Asia and Australia.
That number is bigger than McDonald’s (around 41,800 locations) and Starbucks (about 38,000 stores).
The speed of Mixueโs growth is shocking. In just three years, the company more than doubled its store count. Meanwhile, McDonald’s and Starbucks have been growing at a slower pace, opening thousands of stores but not at Mixueโs level.
In China, 90% of Mixueโs stores are inside the country, but it also operates in 10 other Asian countries and Australia. With this massive reach, Mixue has built a strong customer base, selling millions of ice creams and drinks daily.
A Business Model Built for Massive Growth
Unlike McDonald’s, which makes money from real estate and franchise fees, Mixue earns most of its profit from selling ingredients to its franchise stores.
Instead of charging high fees to open a Mixue shop, the company sells franchise owners everything they needโmilk powder, tea leaves, sugar, and even the cups.
This gives Mixue two advantages:
- Franchise owners do not have to invest a lot of money, so more people open stores
- Mixue keeps control of product quality while making steady profits from supplies
Small Shops, Big Profits
Most Mixue stores are small kiosks, not large restaurants. Some locations are set up next to convenience stores, phone repair shops, or bus stations. This reduces rent costs and allows Mixue to expand quickly.
The cost to open a Mixue franchise is also much lower than other fast-food brands. A new Mixue store costs between $30,000 to $50,000, while a McDonald’s franchise can cost overย $2 million. This makes Mixue a much easier option for new business owners.
Mixue’s Menu – Affordable Treats for Everyone
Here’s a look at some popular products and their prices.
| Product | Price (USD) |
|---|---|
| Ice Cream Coffee | $1.17 |
| Strawberry Smoothie | $1.17 |
| Mango Smoothie | $1.17 |
| Ice Cream Earl Grey Tea | $1.17 |
| Mango Mi-Shake | $1.17 |
| Mango Sundae | $1.17 |
| Brown Sugar Pearl Sundae | $1.17 |
| Chocolate Sundae | $1.17 |
| Strawberry Sundae | $1.17 |
| Boba Mi-Shake | $1.44 |
| Strawberry Mi-Shake | $1.17 |
| Mixue Ice Cream | $0.54 |
| Punched Fresh Orange | $1.35 |
| Creamy Mango Boba | $1.71 |
| Peach Earl Grey Tea | $1.17 |
| Mango Oats Jasmine Tea | $1.17 |
| Passion Fruit Jasmine Tea | $1.35 |
| Lemon Jasmine Tea | $0.81 |
| Fresh Lemonade | $0.72 |
| Ice Cream Jasmine Tea | $1.17 |
| Earl Grey Tea with Toppings | $1.35 |
| Original Earl Grey Tea | $0.99 |
| Jasmine Tea with 2 Toppings | $1.58 |
| Original Jasmine Tea | $0.99 |
| Cheese Tea | $1.35 |
| Hawaiian Fruit Tea | $1.26 |
| Peach Earl Grey Tea | $1.08 |
| Lemon Tea | $1.04 |
| Red Bean Milk Tea | $1.35 |
| Taro Ball Milk Tea | $1.35 |
| Three Gems Milk Tea | $1.35 |
| Milk Foam Grape | $1.35 |
| Milk Foam Strawberry | $1.35 |
| Milk Foam Milk Tea | $1.35 |
| Milk Foam Black Tea | $1.35 |
| Oolong Tea | $1.35 |
| Black Tea | $1.35 |
| Strawberry Pomelo Taro | $1.35 |
| Orange Mango | $1.35 |
| Mango Pomelo Taro | $1.35 |
| Ice Cream Grape | $1.35 |
| Cocoa Cookie Sundae | $1.35 |
| Oats Milk Tea | $1.35 |
| Pearl Milk Tea | $1.35 |
| Brown Sugar Pearl Milk Tea | $1.35 |
| Milk Tea with 2 Toppings | $1.71 |
| Coconut Jelly Milk Tea | $1.53 |
| Lucky Sundae | $1.17 |
| Mi-Sundae | $1.17 |
| Mango Sundae | $1.17 |
| Boba Sundae | $1.17 |
| Supreme Milk Tea | $1.71 |
*Please note that prices may vary by location and are subject to change.
The Power of Low Prices and Simple Stores
Most Mixue products cost less than one dollar. An ice cream cone sells for only $1.20, while bubble tea and lemonade are priced at just a few dollars.
fits into this new reality by offering something cheap but enjoyable. While Starbucks charges around $4 to $6 for a coffee, Mixue offers a refreshing drink for less than half that price.
How Mixue Became a Cultural Phenomenon in China
A big part of that success comes from the Snow King mascot and a theme song that never leaves your head.
The Snow King – A Mascot That Took Over China
McDonald’s has Ronald McDonald. KFC has Colonel Sanders. Mixue has the Snow King, a smiling snowman with a red cape and a golden crown. The Snow King is everywhereโon store signs, drink cups, social media, and even in fan-made artwork.
View this post on Instagram
People in China love the Snow King. Some take pictures with giant statues outside Mixue stores.
Others create funny memes and videos featuring the mascot. It has become a symbol of affordable treats and fun, making Mixue stand out from other fast-food brands.
@cosbit Bing Chilling ft. Snow King #bingchilling #mixue #mixueicecream #icecream #meme #johncena โฌ BING CHILLING – MotokiMaxted
A Song You Canโt Escape
Mixue does not spend millions on celebrity ads. Instead, it has something even more powerfulโa catchy jingle.
The song, I Love You, You Love Me, is simple, upbeat, and impossible to forget. It plays on repeat inside Mixue stores, and customers hear it so often that they start singing along without realizing it.
The song became a viral hit in China. People joke that once you hear it, you can never unhear it. It has been remixed into dance versions, parodies, and even played at weddings. This kind of brand recognition is something most companies can only dream of.
Mixue Becomes a Stock Market Sensation
When the company launched its initial public offering (IPO) in Hong Kong, investors rushed to buy shares. On its first trading day, Mixueโs stock jumped 43 percent, pushing its total value beyond $10 billion.
A Historic Debut That Shook Investors
Mixue raised over $400 million in its IPO, making it one of the biggest stock launches in Asia in recent years. Analysts were quick to point out why the company attracted so much attention:
- Its low-cost, high-volume strategy works in any economy
- It has already proven itself in multiple international markets
- Unlike Starbucks and McDonald’s, it thrives in smaller cities, where people look for cheaper food options
Will Mixue Enter the U.S. Market?
Mixue has already taken over Asia and expanded into Australia. Now, it is officially making its way to the United States.
After surpassing McDonald’s in total store count, the fast-growing fast-food chain is preparing to challenge the biggest names in the U.S. market.
The company operates on a unique franchise model, where most of its revenue comes from selling supplies to store owners rather than charging high franchise fees.
What Challenges Mixue Faces in the U.S.
- Competition from major fast-food chains like McDonald’s and Starbucks
- Higher operating costs, including rent and wages
- Different consumer habits, as Americans are more used to coffee than bubble tea
Despite these challenges, experts believe Mixue has the scale, pricing, and business model to shake up the U.S. fast-food industry. With its recent $444 million stock market debut, the company has the resources to grow quickly in North America.
Mixueโs official timeline for opening U.S. locations has not been revealed, but its expansion into the market is already in motion.
Why Brazil Could Be a Huge Market for Mixue?
Brazil offers a massive market with millions of potential customers who love affordable food and drinks. Bubble tea has started gaining popularity in major cities, and many people are looking for cheaper alternatives to expensive international brands like Starbucks.
The franchise system in Brazil is strong, making it easier for Mixue to expand without spending too much on company-owned stores.
The warm climate also makes it a great place for selling cold drinks and ice cream year-round. If Mixue decides to enter Brazil, it could quickly grow in the same way it did across Asia.
FAQs
Does Mixue Offer Food?
Mixue primarily focuses on bubble tea, smoothies, and ice cream, but in some locations, it also offers light snacks and desserts. Some stores in China and Southeast Asia sell waffles, egg tarts, and sweet pastries. However, Mixue has not introduced full meals or savory food items like McDonald’s or KFC.
How Many Countries Does Mixue Operate In?
Mixue has expanded beyond China and now operates in more than 10 countries, including Indonesia, Vietnam, Thailand, Malaysia, South Korea, Japan, Singapore, and Australia. The company is now preparing to enter the United States, with future plans possibly targeting Brazil and other global markets.
Does Mixue Offer Sugar-Free or Healthier Drink Options?
While Mixue is known for its sweet and creamy drinks, some locations offer lower-sugar options. Customers can often request less sugar or no sugar in certain teas. Some fruit teas are naturally lighter, making them a good choice for those looking for healthier alternatives.
What Are the Best-Selling Drinks at Mixue?
Some of Mixueโs most popular drinks include Fresh Lemonade, known for its refreshing taste and cheap price, and Brown Sugar Pearl Milk Tea, which is a favorite among bubble tea lovers. The Creamy Mango Boba is also a top choice for customers who enjoy thick, fruity drinks.
Does Mixue Change Its Menu for Different Countries?
Yes, while the core menu stays the same, Mixue adjusts its offerings based on local tastes. In some regions, there are special flavors or seasonal items like Peach Jasmine Tea or limited-time holiday drinks. However, its famous ice cream and classic milk teas remain available everywhere.
What Kind of Toppings Can You Add to Mixue Drinks?
Some of the most common include brown sugar pearls, coconut jelly, pudding, red beans, oats, and crushed cookies. Some locations even have seasonal toppings like fresh fruit bits or herbal jelly, depending on the market.
The Bottom Line
Mixue has grown faster than anyone expected, surpassing McDonald’s and Starbucks to become the largest fast-food chain in the world by store count. With over 45,000 locations, it has built a business model that keeps costs low and expansion fast.
The company is planning to enter the US, where it will compete directly with McDonald’s, Starbucks, and Dunkin’. With 15-cent ice cream cones and one-dollar bubble teas, it could attract millions of customers looking for cheaper alternatives. Expansion into Brazil and other global markets may not be far behind.
Mixue has already taken over Asia. Now, it is looking to disrupt the fast-food industry worldwide.
