Quick Answer
Mixue (Mixue Ice Cream & Tea) began in 1997 as a shaved ice shop opened by founder Zhang Hongchao in Zhengzhou, Henan, and adopted the Mixue brand name in 1999, spreading through cities of every tier in China with low-priced ice cream, lemonade and milk tea. According to its IPO prospectus, Mixue was the world’s largest freshly made drinks company by store count as of September 30, 2024; its 2025 annual results show 59,823 stores worldwide as of December 31, 2025 (55,356 in mainland China and 4,467 overseas). Mixue listed on the Hong Kong Stock Exchange on March 3, 2025 (stock code 2097). Its success rests on low prices, franchise expansion and an in-house supply chain: the company began building its own supply chain in 2012 and produces 100% of its core drink ingredients itself.
What Is Mixue?
Mixue is a freshly made drinks chain from Zhengzhou in China’s Henan province, known in English as Mixue. It mainly sells ice cream, lemonade, milk tea and fruit tea, and is famous for low prices. According to Wikipedia, signature items include ice cream at about RMB 3 and lemonade at about RMB 4; the group also runs a budget coffee sub-brand, Lucky Cup.
| Item | Details |
|---|---|
| Founded | 1997, Zhengzhou, Henan (originally a shaved ice shop) |
| Founder | Zhang Hongchao (later run together with his brother Zhang Hongfu) |
| Brand name adopted | 1999 |
| Listing | March 3, 2025, Hong Kong Stock Exchange (2097) |
| Stores worldwide | 59,823 (as of December 31, 2025) |
| Signature items | Ice cream, lemonade, milk tea, fruit tea |
Mixue Timeline
| Year | Milestone |
|---|---|
| 1997 | Zhang Hongchao opens a shaved ice shop in Zhengzhou |
| 1999 | The Mixue brand name is officially adopted |
| 2012 | Starts building its own supply chain (Henan Daka Food) |
| 2018 | Launches the “Snow King” mascot; enters Vietnam |
| 2021 | Its theme song goes viral online |
| 2023 | Enters Hong Kong |
| 2025 | Lists in Hong Kong in March; first US store opens in Los Angeles in December |
Snow King and the Theme Song: Making the Brand Memorable
Mixue launched its Snow King mascot in November 2018. Its theme song, released in June 2021 with the lyrics “You love me, I love you, Mixue Ice Cream & Tea is so sweet”, was widely remixed and shared online. For bubble tea brands, a memorable character and melody can sharply cut the cost of communicating across many stores and social channels.
How Did Mixue Open So Many Stores?
- Low prices: low-priced items reach smaller cities and students.
- Franchise expansion: franchising is the main growth model, and Mixue offers franchisees free nationwide logistics (Business Weekly).
- In-house supply chain: five production bases, 100% in-house production of core drink ingredients including sugar, dairy and tea, plus its own logistics system (Business Weekly).
- Economies of scale: according to Business Weekly, its store network sold about 9 billion cups in 2024, with end retail sales of about RMB 58.3 billion.
Mixue Overseas
Mixue began expanding overseas in Vietnam in 2018. According to Wikipedia, its overseas markets include Vietnam, Indonesia, Malaysia, Singapore, Thailand, Cambodia, Laos, South Korea, Japan and Australia; its first US store opened in Hollywood, Los Angeles on December 19, 2025. Its 2025 annual results show 4,467 overseas stores, down from 4,895 in 2024, which the company said mainly reflected optimizing existing stores in Indonesia and Vietnam.
For overviews of the Southeast Asian and US bubble tea markets, see Bubble Tea in Southeast Asia and Bubble Tea in the USA.
4 Lessons for Bubble Tea Businesses
- Supply chain is the foundation of scale: the more stores you have, the more ingredient quality and reliable supply matter; see How to Import Bubble Tea Ingredients from Taiwan.
- A focused, standardized menu: a tight menu and SOPs keep flavor consistent across many stores; see Bubble Tea Shop SOP and Staff Training.
- Price point must match cost structure: low prices need scale and a supply chain behind them; see How to Calculate Bubble Tea Shop Profit Margins.
- Adapt locally when expanding overseas: tastes, regulations and channels differ by market; see Taking a Bubble Tea Brand Overseas.
How Tang Sugar Helps Bubble Tea Brands
Tang Sugar supplies bubble tea ingredients including teas, syrups, tapioca pearls and powders, with a single quote for your whole menu and consolidated container shipping, plus distributor partnerships and tea shop opening services. Contact us.
Note: This article summarizes public information about the brand’s development. Tang Sugar has no partnership or affiliation with the brands mentioned; brand names and trademarks belong to their respective owners.
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FAQ
Where is Mixue from?
Mixue is a freshly made drinks brand from Zhengzhou, Henan, China. It began in 1997 as a shaved ice shop opened by founder Zhang Hongchao and adopted the Mixue brand name in 1999.
How many stores does Mixue have?
According to Mixue Group’s 2025 annual results, it had 59,823 stores worldwide as of December 31, 2025, including 55,356 in mainland China and 4,467 overseas.
Is Mixue the world’s largest drinks chain?
According to its IPO prospectus, Mixue was the world’s largest freshly made drinks company by store count as of September 30, 2024; several international media outlets have also reported its store count surpassing McDonald’s and Starbucks.
When did Mixue go public?
It listed on the Hong Kong Stock Exchange on March 3, 2025, under stock code 2097.
What is Mixue’s full English name?
Its English name is Mixue, in full Mixue Ice Cream & Tea.
Why is Mixue so cheap?
Mainly because of scale and an in-house supply chain: the company has its own production bases, makes its core drink ingredients itself and runs its own logistics system, lowering ingredient and delivery costs.
Who founded Mixue?
Zhang Hongchao, who opened a shaved ice shop in Zhengzhou, Henan in 1997 and later ran the business with his brother Zhang Hongfu.
Further Reading
- Bubble Tea Market Trends
- Bubble Tea Franchise or Your Own Brand?
- Taking a Bubble Tea Brand Overseas
- Where Is CoCo Fresh Tea & Juice From?
- Where Is Tiger Sugar From?
Sources
- Business Weekly: From a Henan shop to Hong Kong’s new IPO darling with more stores than Starbucks: how Mixue became the world’s largest drinks company (in Chinese)
- Sina Finance: The world’s largest freshly made drinks company: Mixue updates its Hong Kong IPO prospectus (in Chinese)
- 21st Century Business Herald (2026-03-24): Mixue Group 2025 annual results (in Chinese)
- Inside Retail Asia (2025-02-20): China’s Mixue surpasses McDonald’s as largest food chain globally
- Restaurant Dive: China’s popular Mixue boba shop launches in US
- Wikipedia: Mixue (in Chinese)
