Mixue Ice Cream and Tea, China’s leading bubble tea chain, has surpassed McDonald's and Starbucks in outlet numbers with over 45,000 locations worldwide. Following its recent $444 million debut on the Hong Kong Stock Exchange, the brand experienced a significant stock increase. Founded in 1997 by Zhang Hongchao, Mixue has thrived on the growing bubble tea trend, leveraging an extensive franchise network that reaches beyond China into several countries. Its appeal lies in affordability and a catchy jingle, making it increasingly popular among the youth.
"It's the largest brand that nobody's ever heard of," said Robert Carter, restaurant industry analyst at StratonHunter. "They've just exploded."
Mixue has become a national icon among Chinese consumers and its catchy jingle translates in English to, "I love you, you love me, Mixue Ice Cream & Tea," set to the tune of the popular American song Oh! Susanna.
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