Mixue Takes the Crown: How China's Beverage Giant Outshone Starbucks and McDonald's

Mixue Group, China's biggest F&B chain by store count, has surpassed McDonald's and Starbucks to become the world's biggest F&B chain. Mixue, with more than 45,000 outlets worldwide, is riding Southeast Asia's sweet tooth on cheap ice cream, coffee, and bubble tea. The company's strong growth is underpinned by a franchise system and aggressive online promotion. Other Chinese brands such as Haidilao and Luckin Coffee are also gaining popularity, furthering Beijing's cultural and commercial reach in the region. Mixue's shares have doubled since its IPO, indicating its increasing popularity.

 

Source: Associated Press