Mixue Ice Cream & Tea

This article is about the Chinese dessert chain. For the Chinese musical artist, see Mi Xue.
Mixue Group
Native name
Chinese蜜雪冰城股份有限公司
Literal meaningHoney Snow Ice City Joint Stock Limited Company
Company typePublic
SEHK: 2097
IndustryRestaurant
GenreIce cream parlor
Beverage
FoundedJune 1997; 28 years ago (1997-06) in Zhengzhou, China
FounderZhang Hongchao
Number of locations
46,479 (December 31, 2024)[1]: 7 
Area served
Australia, Brazil, Cambodia, Hong Kong, Indonesia, Japan, Kazakhstan, Kenya, Laos, Macau, Mainland China, Malaysia, Myanmar, Philippines, Singapore, South Korea, Thailand, Vietnam and United States
Key people
Zhang Hongchao (Chairman)
Zhang Hongfu (CEO)
ProductsIce cream, bubble tea, and tea
RevenueIncrease RMB24.8 billion[1]: 99  (2024)
Increase RMB5.81 billion[1]: 99  (2024)
Increase RMB4.45 billion[1]: 99  (2024)
Websitemxbc.com

Mixue Ice Cream & Tea (Chinese: 蜜雪冰城; pinyin: Mìxuě Bīngchéng; lit. 'honey snow ice city') is a Chinese multinational restaurant chain specializing in ice cream and tea-based drinks. It was founded in 1997 in Zhengzhou by Zhang Hongchao.[2]

As of early 2025, it operated more than 45,000 stores in China and overseas, making it the world's largest food-service chain by number of stores.[3] Most locations are franchised and the company generates a large share of its revenue by supplying ingredients, equipment, and packaging to franchisees. Its menu emphasizes low-priced items such as soft-serve ice cream and milk tea.[4]

Mixue's parent company, Mixue Group, is listed on the Hong Kong Stock Exchange.[5] The initial public offering raised about HK$3.45 billion (approximately US$444 million at the time) and the shares rose by about 40–47% on the first day of trading.

History

Mixue branch in Zhengzhou
Mixue's mascot, "Snow King" (雪王)

In June 1997, Zhang Hongchao was studying at Henan University of Economics and Law when he opened a shaved‑ice stall in Zhengzhou using a CN¥3,000 loan from his grandmother.[6] The stall's early success convinced him to expand, and in 1999 he opened a second stand called Mixue Bingcheng.[7]

Due to a lack of experience, Hongchao had closed three stores in a little more than a year. Following the closure of his third store, he went to Hefei in order to sell tanghulu, which also failed.[8] In the spring of 1999, Hongchao returned to Zhengzhou to start a new cold drink shop, though this would also be demolished; the failures of these street stalls were attributed to poor locations and ongoing urbanization.[8]

Timeline

Mixue Ice Cream & Tea began in 1997 when Zhang Hongchao opened the first location under the Mixue name.[9] After six relocations, the first successful Mixue Ice Cream & Tea store opened in 2003.[10][8] Around 2005 or 2006,[11] the company introduced soft serve ice cream at the price of just CN¥1, which quickly became a best-seller and its first signature product;[12] by the first nine months of 2023, Mixue had sold approximately 442 million ice cream cones in China.[13]

In 2007, Mixue began franchising after opening a new ice cream shop.[14] The following year, it established Mixue Ice Cream & Tea Trading Co., Ltd. to manage its growing network of franchises.[15] In 2012, Henan Daga Food Co., Ltd. was founded to support self-production of raw materials for the franchise, and by 2014, the company had developed the Mixue Ice Cream & Tea Logistics Park to streamline distribution as it continued expanding across China.[citation needed]

Mixue took its first step outside of China on September 5, 2018, with a store opening in Hanoi, Vietnam.[16] Later that year, in November, it launched a new brand mascot, Snow King.[17][18] Between May 24 and 26, 2019, the company hosted an "ice cream music festival" at Opalala Water Park in Zhengzhou,[19] drawing over 30,000 visitors. On June 24, 2020, Mixue celebrated the opening of its 10,000th store in Yuanyang County, Henan, Xinxiang.[20] That same year, it expanded into Indonesia with a branch in Cihampelas Walk, Bandung.[21]

Mixue reportedly went public for the first time on September 30, 2021.[citation needed] In 2022, the company made significant purchases of over 9,000 tonnes (8,900 long tons; 9,900 short tons) of tea, benefiting around 50,000 tea farmers, while also supporting over 11,000 franchisees and generating more than 500,000 jobs. It launched a CN¥6.5 million scholarship program across five universities in Henan[22] and expanded into additional Southeast Asian markets, opening stores in Singapore,[23] Thailand, Cambodia, Philippines, Laos, and Myanmar.[24] By the end of 2022, Mixue had also entered South Korea and Japan.[25][26]

In February 2023, the company debuted in Australia with a store in Sydney,[27][28] followed by additional openings in Melbourne and Brisbane.[29]

On March 3, 2025, Mixue Group went public through an initial public offering on the Hong Kong Stock Exchange in what was then the city's largest initial public offering of the year. The company sold 17 million shares at HK$202.5 each, raising about HK$3.45 billion (US$444 million).[30]

In September 2025, Mixue began plans to open a store in the United States in New York City.[31][32] On December 20, 2025, Mixue opened their first American store in Hollywood, Los Angeles,[33] and two stores opened four days later in New York City, in Herald Square and the Hell's Kitchen neighborhood. Reviewers prominently noted the chain's low prices and that items were constantly sold out.[34][35]

Controversies

Food safety

In December 2022, journalists from The Beijing News applied for jobs at two stores in Nanjing, where they were not required to sign labor contracts and discovered that "discarded" ingredients and "corner-cutting measures" were being used.[36] The story was reported in March 2023, and as of March 14, 2023, the number of complaints on the Black Cat Complaint Platform reached 4,435, most of which were food safety issues.[37]

Illegal use of child labor

On April 2, 2022, a Mixue drink shop in Tiantai County was fined CN¥12,500 for the illegal use of child labor by the local comprehensive administrative enforcement bureau after hiring a 15-year-old girl.[38] The owner of the punished franchise store admitted fault in an interview with the media and said he realized his mistake to hire the 15-year-old minor, but claimed that her family had abandoned the minor, and so he sympathetically let her work at his store. He confirmed that the minor had since left.[39] In July of the same year, a Mixue drink shop in Chiping County of Liaocheng was fined CN¥5,000 for the illegal use of child labor.[40]

See also

References

  1. ^ a b c d 2024 Annual Report (PDF). Hong Kong Exchanges and Clearing. 2025-04-23.
  2. ^ 腾讯网 (2023-01-26). "成为中国最大连锁品牌：蜜雪冰城成长史｜年度回顾_腾讯新闻". news.qq.com (in Chinese (China)). Retrieved 2025-11-09.
  3. ^ 腾讯网 (2025-02-15). "蜜雪冰城通过聆讯：门店数全球第一，2024年终端零售额约583亿_腾讯新闻". news.qq.com (in Chinese (China)). Retrieved 2025-11-09.
  4. ^ 《财经》新媒体 (2025-06-09). "4元柠檬水一年卖超10亿杯！蜜雪冰城是如何把价格打下来的？". finance.sina.com.cn. Retrieved 2025-11-09.
  5. ^ "蜜雪冰城今起招股，红杉、博裕、高瓴、美团龙珠等为基石，预计3月3日挂牌上市". finance.sina.com.cn. 2025-02-21. Retrieved 2025-11-09.
  6. ^ Smith, Dave (June 2, 2025). "A 21-year-old asked his grandmother for money to open a street-food stall. Now, it's the world's largest fast-food chain, eclipsing McDonald's". Fortune. Retrieved 2025-08-15.
  7. ^ Lee, Zinnia (March 3, 2025). "Billionaire Brothers' Chinese Bubble Tea Giant Mixue Surges In Hong Kong Debut". Forbes. Retrieved 2025-08-15. Two years later, Hongchao opened another shaved ice stall called Mixue Bingcheng, meaning 'sweet snow palace.' He first tasted success in 2005, when Mixue launched soft-serve ice cream, which became a big hit thanks to its competitive pricing.
  8. ^ a b c "蜜雪冰城23年血泪创业史: 关门3次, 被拆4次, 创始人被弟弟"怼"出局_张红超". www.sohu.com. Retrieved 2023-06-23.
  9. ^ 商讯 (2020-06-24). "蜜雪冰城门店规模破万 河南品牌走向全球_新浪河南_新浪网". henan.sina.com.cn. Retrieved 2023-06-07.
  10. ^ 徐一 (2020-10-13). "估值200亿、高瓴及美团系入股?蜜雪冰城紧急回应 | 极刻". www.dahecube.com. Retrieved 2023-06-07.
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  12. ^ Michelle Toh; Hassan Tayir (2024-01-04). "Two of China's bubble tea giants are gearing up for IPOs". CNN.
  13. ^ ZHENG YIRAN (2024-03-27). "Mixue's rags-to-riches tale inspirational for peer firms". China Daily.
  14. ^ Liu, Vivien, Vivien (27 February 2025). "Bubble Tea Chain Bigger Than Starbucks Yields $8 Billion Fortune". Bloomberg. Retrieved 2025-11-09.
  15. ^ 刘睿祎 (2022-12-12). "透视蜜雪冰城IPO: 直营门店毛利率为负 百亿营收加盟商占绝对"优势"-新华网". www.xinhuanet.com. Retrieved 2023-06-23.
  16. ^ 澎湃新闻 (2021-07-23). "卷入越南, 蜜雪冰城能延续甜蜜蜜吗?". finance.sina.com.cn. Retrieved 2023-06-07.
  17. ^ 红星新闻 (2021-10-13). "蜜雪冰城, 失去"雪王"?|蜜雪冰城|国家知识产权局_新浪科技_新浪网". Archived from the original on 2021-10-13. Retrieved 2023-06-23.
  18. ^ 窄门餐眼 (2022-11-18). "2022年全球排名100连锁餐饮品牌榜单揭晓". www.foodtalks.cn. Retrieved 2023-06-23.
  19. ^ 王勇生 (2019-05-30). "蜜雪冰城冰淇淋音乐节罗志祥汪苏泷等20多位明星大咖精彩开唱, 现场挑战3000人同吃冰淇淋!_央广网". hn.cnr.cn. Retrieved 2023-06-07.
  20. ^ 彭华 (2020-06-24). "蜜雪冰城门店规模破万, 河南品牌走向全球_央广网". hn.cnr.cn. Retrieved 2023-06-07.
  21. ^ "Mixue on the march: ice cream serves soft power for China in Southeast Asia". The Jakarta Post. Retrieved 2023-07-20.
  22. ^ 河南日报 (2023-04-13). "蜜雪冰城发布2022年社会责任报告 全产业链带动超50万人就业". Weixin Official Accounts Platform. Retrieved 2023-06-07.
  23. ^ "Famous Chinese Soft-Serve Chain Mixue, Opens Their First S'pore Outlet In Clementi With $1 Soft-Serve Cones!". Singapore Foodie. 2022-03-07. Retrieved 2022-12-29.
  24. ^ Pandaily (2022-11-16). "Chinese Tea Brands Including Mixue and HeyTea Eye Southeast Asia". Pandaily. Retrieved 2022-12-29.
  25. ^ "小红书". www.xiaohongshu.com. Retrieved 2022-12-29.
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  31. ^ Abrams, Sean (September 14, 2025). "The World's Largest Fast-Food Chain Is Opening In The U.S.—Find Out Where". Delish. Retrieved 4 October 2025.
  32. ^ Provini, Celine (September 19, 2025). "World's largest fast-food chain coming to U.S. take on McDonald's". The Street. Retrieved 4 October 2025.
  33. ^ "Mixue Group opens 1st US store in Hollywood". www.chinadaily.com.cn. Retrieved 20 December 2025.
  34. ^ Teclemariam, Tammie (2026-01-15). "Mixue, the World's Largest Restaurant Chain, Opens in NYC". Grub Street. Retrieved 2026-01-23.
  35. ^ Chandonnet, Aditi; Bharade, Henry (19 January 2026). "The world's biggest fast-food chain just landed in NYC. We tried Mixue — and the hype is real". Business Insider. Retrieved 2026-01-23.
  36. ^ "蜜雪冰城又又又翻车，承认错误有这么难吗？_舆情聚焦_中国甘肃网". yqpd.gscn.com.cn. Retrieved 2025-11-09.
  37. ^ 迟道华 (2023-03-15). "蜜雪冰城不要在食品安全问题上屡屡翻车 | 新京报快评". www.bjnews.com.cn. Retrieved 2023-06-23.
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  40. ^ 三言财经 (2022-07-13). "蜜雪冰城门店再因违法使用童工被罚". finance.sina.com.cn. Retrieved 2023-06-23.
allikas: https://en.wikipedia.org/wiki/Mixue_Ice_Cream_%26_Tea