Mixue
Mixue Ice Cream and Tea has eclipsed McDonald’s, Starbucks and Subway to become the largest food and beverage chain in the world, finishing the year with 45,282 locations, an increase from 7,100 in 2019 and double the level of three years ago. It’s looking to IPO and raise $510 million in the process and debuted in Hong Kong today. It’s selling ice cream and drinks at the price of 6 yuan, or about 83 cents, which has made for explosive growth in China where the economy has many hunting down inexpensive treats.
Stu Woo, The Wall Street Journal
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