Mixue Surpasses McDonald's and Starbucks to Become World's Largest F&B Chain

As of September 2024, Mixue Ice Cream & Tea has emerged as the world's largest food and beverage (F&B) chain, boasting 45,302

globally. This expansion surpasses McDonald's approximately 43,000 locations and Starbucks' 40,199 stores. Within a year, Mixue from the fourth position to lead the global F&B sector.

Despite its rapid growth in store count, Mixue's

(GMV) remains fourth among freshly-made beverage chains, with an estimated $6.5 billion in the past year, trailing behind Starbucks, Inspire Brands, and Tim Hortons.

In Southeast Asia, Mixue has been a significant contributor, accounting for over 70% of the 6,100 new F&B outlets established by Chinese chains. The company's unique business model and core values

it from other brands in the industry.

Founded in 1997 by Zhang Hongchao, Mixue has maintained

by controlling its entire supply chain—from ingredient production to logistics and . A substantial portion of its revenue is selling kitchen equipment and food materials to .

In Vietnam, Mixue entered the market in 2018, initially focusing on Hanoi and northern provinces before expanding nationwide. By September 2024, Vietnam had become Mixue's second-largest overseas market, with 1,304 stores, following Indonesia. In 2023, the brand's revenue in Vietnam reached nearly 1,260 billion VND, a 2.6-fold increase from the previous year, with

tripling to 204 billion VND.