* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

  • 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
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

  • 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
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    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

Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 2025
Roane State and TCAT Knoxville celebrate ‘Countdown to Grand Opening’ for Knox Regional Health Science Education Center – WVLT

Roane State and TCAT Knoxville Kick Off Exciting Countdown to Grand Opening of Knox Regional Health Science Education Center

September 19, 2025
Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

September 19, 2025
Klutch Sports Group Signs Maria Taylor – Variety

Klutch Sports Group Scores Big with Star Broadcaster Maria Taylor Joining the Team

September 18, 2025
Historic chills fit in nicely at Old World Wisconsin’s Halloween special program – Milwaukee Journal Sentinel

Historic chills fit in nicely at Old World Wisconsin’s Halloween special program – Milwaukee Journal Sentinel

September 18, 2025
The Economy Is Turning Into a Black Box – The Atlantic

The Economy Is Turning Into a Black Box – The Atlantic

September 18, 2025
Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

Massive Attack Announces Plans to Pull Their Music from Spotify

September 18, 2025
Ex-UC Health doctor who performed genital ultrasounds in his apartment sentenced to jail – Cincinnati Enquirer

Former UC Health Doctor Sentenced to Jail for Performing Genital Ultrasounds in His Apartment

September 18, 2025
Readers respond: Politics should avoid zero-sum game – OregonLive.com

Readers Respond: Why Politics Must Move Beyond the Zero-Sum Game

September 18, 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 (826)
  • Economy (845)
  • Entertainment (21,724)
  • General (17,113)
  • Health (9,890)
  • Lifestyle (859)
  • News (22,149)
  • People (850)
  • Politics (855)
  • Science (16,056)
  • Sports (21,345)
  • Technology (15,828)
  • World (829)

Recent News

Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 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