* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, September 13, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

    The other WWE star James Gunn wanted for Peacemaker instead of John Cena – yahoo.com

    The WWE Star James Gunn Originally Wanted for Peacemaker Instead of John Cena

    Quinta Brunson, John Stamos Join Entertainment and Technology Summit – Variety

    Quinta Brunson and John Stamos to Headline Thrilling Entertainment and Technology Summit

    ‘Breaking Bad’ star arrested for incident with neighbor. Here’s the latest – PennLive.com

    Breaking Bad’ Star Arrested Following Neighbor Dispute: Latest Updates

    Palmetto Sports & Entertainment to air Columbia Fireflies playoff games – WIS News 10

    Catch Every Thrilling Moment: Palmetto Sports & Entertainment to Broadcast Columbia Fireflies Playoff Games!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Figure Technology’s stock sizzles after IPO, as investors stay hungry for crypto deals – MarketWatch

    Figure Technology’s Stock Skyrockets After IPO Amid Surging Crypto Investor Excitement

    AI is the ‘most transformational technology’ in our lifetime, AMD CEO argues – Fox Business

    AMD CEO Declares AI the Most Transformative Technology of Our Era

    PAR Technology (PAR) Unveils AI-Powered Assistant Enhancing Restaurant Operations and Customer Engagement – simplywall.st

    PAR Technology Unveils AI-Powered Assistant to Revolutionize Restaurant Operations and Boost Customer Engagement

    Lincoln Laboratory technologies win seven R&D 100 Awards for 2025 – MIT News

    Lincoln Laboratory Technologies Secure Seven Prestigious R&D 100 Awards for 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

    The other WWE star James Gunn wanted for Peacemaker instead of John Cena – yahoo.com

    The WWE Star James Gunn Originally Wanted for Peacemaker Instead of John Cena

    Quinta Brunson, John Stamos Join Entertainment and Technology Summit – Variety

    Quinta Brunson and John Stamos to Headline Thrilling Entertainment and Technology Summit

    ‘Breaking Bad’ star arrested for incident with neighbor. Here’s the latest – PennLive.com

    Breaking Bad’ Star Arrested Following Neighbor Dispute: Latest Updates

    Palmetto Sports & Entertainment to air Columbia Fireflies playoff games – WIS News 10

    Catch Every Thrilling Moment: Palmetto Sports & Entertainment to Broadcast Columbia Fireflies Playoff Games!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Figure Technology’s stock sizzles after IPO, as investors stay hungry for crypto deals – MarketWatch

    Figure Technology’s Stock Skyrockets After IPO Amid Surging Crypto Investor Excitement

    AI is the ‘most transformational technology’ in our lifetime, AMD CEO argues – Fox Business

    AMD CEO Declares AI the Most Transformative Technology of Our Era

    PAR Technology (PAR) Unveils AI-Powered Assistant Enhancing Restaurant Operations and Customer Engagement – simplywall.st

    PAR Technology Unveils AI-Powered Assistant to Revolutionize Restaurant Operations and Boost Customer Engagement

    Lincoln Laboratory technologies win seven R&D 100 Awards for 2025 – MIT News

    Lincoln Laboratory Technologies Secure Seven Prestigious R&D 100 Awards for 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

From roadside stand to a global franchise: The rise of Mixue Bingcheng

July 25, 2023
in News
From roadside stand to a global franchise: The rise of Mixue Bingcheng
Share on FacebookShare on Twitter

In the summer of 1997, Zhang Hongchao, armed with a meager capital of RMB 3,000 (USD 460), embarked on a journey that would lead to the creation of Mixue Bingcheng, a global chain of fresh ice cream and tea stores. Zhang Hongchao, together with his younger brother Zhang Hongfu, evolved from running a roadside ice stall in Zhengzhou, a city of 10 million people, to commanding a business empire with over 18,000 stores across China and Southeast Asia.

The early struggles and strategic expansion of Mixue Bingcheng

In the late 90s, Zhang Hongchao pivoted from a series of unsuccessful entrepreneurial ventures to re-establish his cold drink business, Mixue Bingcheng, in rapidly developing Zhengzhou. He tailored the business to the emerging urban demands, offering a diverse menu that resonated with locals and secured Mixue Bingcheng’s place in the city’s food and beverage scene.

1999 was a pivotal year when Zhang’s brother, Zhang Hongfu, joined the business. By introducing an affordable menu and situating outlets in underrepresented third- and fourth-tier cities, college students and young adults became a key customer segment of Mixue under the Zhang brothers’ management. Zhang Hongfu’s innovative menu additions further catered to evolving customer tastes, elevating Mixue Bingcheng as a go-to spot for a fusion of sweet and savory cravings.

Low prices, high volumes: A winning strategy

Mixue Bingcheng’s strategy was to offer affordable prices. A hamburger would cost RMB 3 (USD 0.42), French fries for RMB 1, and Yangzhou fried rice for RMB 2. By calculating the cost meticulously and adding a small gross profit margin, the brothers managed to turn a profit despite the low prices.

2006 marked a turning point when the brothers noticed a popular ice cream priced at RMB 18. They promptly developed a new ice cream for Mixue Bingcheng, priced at just RMB 1, which quickly became a hit item. This affordable ice cream brought an influx of customers, selling up to 5,000 units a day.

After operating as a sole proprietorship for a few years, the brothers reshaped Mixue Bingcheng into a partnership with two other shareholders in 2008, bringing in professional managers and rebranding with a new company logo. By 2010, Mixue Bingcheng had passed the first batch of franchising records with the Ministry of Commerce, leading to rapid growth in the number of stores.

In 2011, the partnership dissolved peacefully, leaving the Zhang brothers solely in charge of the business. The company began to expand, hitting a significant milestone in 2020 with over 18,000 stores worldwide, including Vietnam, Indonesia, and Laos in Southeast Asia.

Mixue Bingcheng’s financing success

Mixue Bingcheng secured its first and only round of financing in 2021. Led by Meituan’s DragonBall Capital and Hillhouse Capital, the company raised over RMB 2 billion (USD 278.82 million), catapulting its valuation to RMB 20 billion. Rumors of a potential listing began to circulate shortly after, and Mixue Bingcheng is now poised for its debut on the stock market.

An insider within the venture capital community, intimately familiar with the investment process, shared with the investment community, “The competition this time was intense. Every firm dispatched its best teams in a bid to secure a stake in Mixue Bingcheng. Ultimately, institutions such as Hillhouse Capital, DragonBall Capital, and CPE managed to achieve their objectives.”

Mixue Bingcheng’s low-cost, high-expansion formula for public listing

Mixue Bingcheng is making strides towards going public, underpinned by its unique business approach. By keeping its products affordable, most of which are priced below RMB 10, Mixue’s offerings still resonate well with consumers, particularly among young customers and residents of third and fourth-tier cities.

The company’s expansion strategy is also notable. Operating mainly as a franchise, Mixue Bingcheng has demonstrated impressive speed in opening stores, outpacing direct-operation brands like Hey Tea. This expansion, fueled by its low-price strategy, has seen Mixue Bingcheng spread from Henan across the country, strategically establishing a dense network of stores.

In addition, the large scale operation has reduced raw material costs, with direct deliveries to franchise stores from the company’s numerous factories and warehouses. Interestingly, apart from franchise fees, Mixue Bingcheng also charges franchises for these raw materials, a major revenue stream for the company. The company’s revenue, rumored to be around RMB 6 billion (USD 836.5 million) in 2019 with a net profit of about RMB 800 million, might now have breached the RMB 10 billion mark.

Constant innovation and diverse offerings fuel global expansion

Mixue Bingcheng continues to innovate and test new product offerings. The same day it filed for its initial public offering, Mixue Bingcheng inaugurated its first “Snow King Castle Experience Store” in Zhengzhou. This flagship store launched not only a range of new beverages but also expanded its menu to include diverse items like deep-fried skewers, coconut milk stewed noodles, do-it-yourself cakes, coffee, and bakery items. The brand even introduced a unique ice cream featuring baked buns, a nod to Henan’s local delicacies.

Last year, Mixue Bingcheng’s CEO, Zhang Hongfu, released an open letter stating the company’s intention to venture into the budget-friendly coffee sector and develop a new brand named “Lucky Coffee.” In a bold declaration of their ambitions, he vowed to replicate the success of Mixue Bingcheng within a span of five years.

The story of Mixue Bingcheng stands as a testament to the entrepreneurial spirit of the Zhang brothers, who managed to transform a humble roadside stall into a global franchising empire, expanding their reach to millions of customers worldwide.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : KrAsia – https://kr-asia.com/from-roadside-stand-to-a-global-franchise-the-rise-of-mixue-bingcheng

Tags: newsroadsidestand
Previous Post

Week 30 in brief: GIMO, Zuno Carbon, and eFishery close funding rounds

Next Post

Beyond funding: The Mills Fabrica’s unique ecosystem that empowers clean tech startups

‘No team is perfect’: Scotland hunt for historic World Cup upset against England – The Guardian

Scotland Sets Sights on Historic World Cup Upset Against England: “No Team Is Perfect

September 13, 2025
What’s happening this week in economics? – Deloitte

What’s happening this week in economics? – Deloitte

September 13, 2025
VNC Recap: The Shifting Economics of University Sports & Entertainment, From $2.8B Settlement, NIL and Mixed-Use Venue Design – Pollstar News

The Future of University Sports and Entertainment: From a $2.8B Settlement to NIL and Cutting-Edge Venue Designs

September 13, 2025
Health costs associated with pregnancy, childbirth, and infant care – healthsystemtracker.org

Breaking Down the True Costs of Pregnancy, Childbirth, and Infant Care

September 13, 2025
Treasury Department says it will ‘fully cooperate’ with House Oversight panel’s Epstein probe – CNN

Treasury Department Pledges Full Cooperation in House Oversight’s Epstein Investigation

September 13, 2025
UW-Stevens Point hosts lecture on cannabis culture and research – Stevens Point Journal

UW-Stevens Point hosts lecture on cannabis culture and research – Stevens Point Journal

September 13, 2025
Southern Miss to Host 7th Annual Rayborn Lecture Featuring Renowned Physical Chemist – The University of Southern Mississippi

Southern Miss Welcomes Renowned Physical Chemist for 7th Annual Rayborn Lecture

September 13, 2025
Shreveport couple accused of defrauding Medicaid to fund cosmetic surgery, luxury lifestyle – WAFB

Shreveport Couple Accused of Using Medicaid Fraud to Fund Cosmetic Surgery and Extravagant Lifestyle

September 13, 2025
Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

September 13, 2025
Fall sports programs relish — or ignore — early effects of new roster limits – The Cavalier Daily

Fall Sports Programs Embrace or Overlook Early Impact of New Roster Limits

September 13, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (818)
  • Economy (838)
  • Entertainment (21,715)
  • General (17,011)
  • Health (9,881)
  • Lifestyle (852)
  • News (22,149)
  • People (841)
  • Politics (846)
  • Science (16,047)
  • Sports (21,337)
  • Technology (15,819)
  • World (820)

Recent News

‘No team is perfect’: Scotland hunt for historic World Cup upset against England – The Guardian

Scotland Sets Sights on Historic World Cup Upset Against England: “No Team Is Perfect

September 13, 2025
What’s happening this week in economics? – Deloitte

What’s happening this week in economics? – Deloitte

September 13, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version