While Starbucks boasts over 32,000 locations in 80 countries, McDonald’s has a presence in more than 100 countries with over 38,000 outlets, and Subway has more than 42,000 locations worldwide, there’s a lesser-known fast food giant that reigns supreme in terms of sheer numbers. Meet Mixue Ice Cream and Tea, a Chinese-based fast food chain that has quietly become the largest in the world, yet remains relatively unknown in the United States.
In a recent article by Food & Wine, the spotlight is turned on Mixue Ice Cream and Tea, which made waves with its successful initial public offering (IPO) that raised over $400 million. The Wall Street Journal reported that the chain’s valuation soared to over $10 billion, with its stock closing 43% higher than its IPO price. Let’s delve into what sets this company apart in the fast food industry.
**A Vast Network of Outlets**
Mixue Ice Cream and Tea has amassed a staggering 45,000 stores by the end of 2025, marking a doubling of its locations in just three years. The majority of these stores operate under franchise models, akin to McDonald’s. Founded in 1997 as a humble ice shop in Zhengzhou, Henan province by brothers Zhang Hongchao and Zhang Hongfu, the chain has seen remarkable growth, propelling the siblings to a combined net worth of $8.1 billion.
**Affordable Delights**
The chain’s success can be attributed to its straightforward menu featuring milk tea, fruit beverages, ice cream, and coffee, all at reasonable prices. With offerings like the Signature King Cone ice cream priced at just over $1 and the indulgent cheese strawberry drink at $3, Mixue Ice Cream and Tea delivers value that resonates with customers.
**Adored Mascot**
While the chain is renowned for its enticing menu, its mascot, the “Snow King,” adds to its charm. A lovable snowman sporting a crown, the Snow King delights customers and followers on social media, embodying the brand’s whimsical spirit.
**Global Expansion on the Horizon**
Speculation abounds that Mixue Ice Cream and Tea may expand to Europe and even the United States. Analysts suggest that the chain’s appeal to investors and consumers alike positions it well for international growth. CNBC highlighted the company’s potential entry into the U.S. and European markets, citing investor interest in the bubble tea sector.
As Mixue Ice Cream and Tea continues to captivate audiences with its affordable treats and endearing mascot, its journey into new territories promises an exciting chapter in the global fast food landscape.
