Mixue: The world’s biggest fast food firm that you’ve never heard of
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Although many of us are not familiar with Mixue Ice Cream and Tea, there are more locations for it than Starbucks and Mcd.
When they began trading on the Hong Kong Stock Exchange on Monday, the balloon tea company’s shares increased by almost 30 %.
In t e fin nc al h ( b’s larges initi l publi o ferin (IPO) of th year, he com any r ised £352 $444 mil l million ).
Mixue’s reputation comes as many people in China are grappling with the government’s financial issues, including a home problems and a weak consumer and firm confidence. It charges an average of six Chinese yuan ($ 0.82 ) for ice creams and beverages.
Zhang Hongchao, a pupil at Henan University of Finance and Economics, established the business in 1997 as a part-time position to manage his family’s budget.
Its full name Mìxuě Bīngchéng means “honey snow ice city”, with its stores adorned with its Snow King mascot and playing the firm’s official theme tune on a loop.
More than 45, 000 shops are located in China and 11 different countries, including Singapore and Thailand, according to Mixue. Additionally, the business has stated that it intends to grow.
That compares to “over 43, 000 locations” for Starbucks ‘ 40, 576 outlets and McDonald’s ‘ “over 43, 000 locations.”
Although it is frequently regarded as China’s largest chain of cold drinks, bubble tea, and ice cream, it still operates more as a raw-materials provider than a conventional brand.
Nearly all of Mixue’s locations are run by owners, in contrast to Starbucks, which runs more than half of its outlets immediately.
Guming, which saw its share decline on its first day of investing in February, stands out from Mixue’s solid business album.
Shares of the owner of the bubble tea ring Chabaidao also fell on their business debut last season.