Latest news with #MixueBingcheng
News.com.au
07-08-2025
- Business
- News.com.au
Shock fast food chain topples McDonald's as world's biggest
Forget McDonald's famed golden arches, Starbucks or KFC – a new player has emerged as the biggest fast food outlet in the world, overtaking the largest brands from the US. And you've probably never even heard of it. Chinese fast food chain Mixue Bingcheng, loosely translated in English as Honey Snow Ice City, has this year surpassed McDonald's to become the largest fast food retailer by number of stores. The ice cream and tea restaurants operate mostly in Asia, with some outlets in Australia and Brazil, and there are more than 46,000 stores globally – outnumbering the McDonald's outlets spread around the world. The company founded in 1997 has made a foray into Australia, with stores in Sydney, Melbourne and Brisbane. The first was in Sydney's World Square, which opened in 2023. It primarily caters to those with a sweet tooth, with affordable bubble tea, ice-cream and coffee offerings. Mixue also has a presence in Japan, South Korea, Taiwan, Hong Kong, Vietnam, Singapore, The Philippines, Kazakhstan, Malaysia and other countries in Southeast Asia. The bulk of the stores, about 41,000, are located in China and are franchise-operated. It's an impressive level of expansion for a company that traces its origins to a street stall selling shaved ice and cold drinks in the inland Chinese city of Zhengzhou. Founder Zhang Hongchao, then a student, was alleged to have started the company with a 3000 yuan (about A$700) loan from his grandmother. Observers, commenting on the brand's meteoric rise across the Asia-Pacific, said the tea and ice cream empire has been built somewhat on a legacy of rock bottom prices. The company gained attention in the early 2000s for selling 1 yuan (20 cents) ice creams. Mixue has went on to sell close to half a billion ice creams in 2023 alone, according to The China Daily. Ray White Commercial retail expert Vanessa Rader said the rise of brands like Mixue represents a global power shift as customers become more accustomed and comfortable buying Chinese brands. 'We are not as afraid of Made in China anymore,' she said. 'Temu, Shein and companies like BYD, even Labubu, have shown that. 'Australia remains an attractive market for Chinese retailers to expand out of Asia. Logistically it is close and there are a lot of first generation Chinese migrants here, familiar with their brands. 'Our spending is also similar to consumers in Europe and the US, so goods can often be marked up … Australia can be a good test for how consumers may respond in bigger (Western) markets.' Mr Rader said takeaway tea, including bubble tea, has expanded rapidly as a category across Australia largely because of the concept's popularity and lower entry costs of doing business. 'With a McDonald's, you have to find a prime spot for it, which is half the battle, and there are a lot of overheads, a lot of staff are needed to run it. The outlay for tea is less. It's easier to expand faster.' Other Chinese fast food brands with a rising global presence include Luckin Coffee, which currently has more global stores than Domino's, Burger King or Pizza Hut – but is yet to come Down Under. There is also Chinese brand Wallace, which serves Western-style burgers and fried chicken, with an emphasis on affordability. With about 20,000 stores, primarily in China, Wallace is the eighth biggest chain in the world by volume of outlets, bigger than Krispy Kreme or Taco Bell. It should be noted, however, that American brands still dominate when it comes to revenue, with the reported earnings of KFC, McDonald's, Starbucks and Burger King dwarfing Chinese brands. Ms Rader said if more Chinese food franchises wanted to be successful in Australia they would need to avoid some of the mistakes other global brands made when setting up shop in the country. 'A lot of global brands that struggled in Australia set their prices too high. With cost of living, pricing is huge factor – even for brands that have a more premium offering. '(Takeout) food can often be viewed as a treat, but for customers to come back week after week, they have to feel like it's a treat they can easily afford.'
Yahoo
11-03-2025
- Business
- Yahoo
Move Over, McDonald's—This Is Now The World's Biggest Fast Food Chain
Sorry Big Mac and friends, you've officially been dethroned. It may be a massive fast-food behemoth, but McDonald's is no longer the world's biggest fast-food chain, according to a report from Newsweek. Who is this new fast food titan? Well, chances are, if you reside in the United States, you've never heard of Mixue Bingcheng. The Chinese bubble tea and ice cream shop has topped McDonald's and Starbucks to become the world's largest food and beverage chain. If the name Mixue Bingcheng doesn't ring a bell, get ready for a frosty introduction. The beloved brand is known for soft-serve ice cream cones that cost the equivalent of just 15 cents, and refreshing beverages that range in price from 30 cents to $1.20. It's worth noting that Mixue Bingcheng is the world's largest food and beverage chain by store count—there are over 45,000 outlets worldwide. Sales figures are not taken into consideration for this ranking. Most of the outlets are located in China, but you'll also find Mixue Bingchengs in Indonesia, Vietnam, and Malaysia. How do favorites like McDonald's and Starbucks stack up to Mixue Bingcheng's store count? A report from McDonald's notes that by the end of 2023, the restaurant had 41,822 restaurants worldwide, with the United States serving as the country with the most locations—13,457, to be exact. And according to Restaurant Business, at the end of 2023, Starbucks had 38,587 locations globally. Looks like they've got some catching up to do. You Might Also Like Insanely Easy Weeknight Dinners To Try This Week 29 Insanely Delicious Vodka Cocktails
Yahoo
07-03-2025
- Business
- Yahoo
McDonald's dethroned as world's largest fast food chain by company with no restaurants in the US
McDonald's is no longer the largest restaurant chain in the world. Mixue Bingcheng is a Chinese bubble tea and ice cream chain with more than 45,000 restaurants worldwide as of September 2024, while the number of McDonald's restaurants all over the world is around 41,800, according to Statista via Chowhound. The Asia-based fast-food chain is known for selling soft-serve ice cream cones for one yuan (15 cents) and drinks ranging from between 2 to 8 yuan (30 cents to $1.20). Despite its huge number of locations, 90 percent of them are in China. There are also outlets in Indonesia, Vietnam, and Malaysia. There isn't a single location in the United States. Mixue Bingcheng was founded in 1997 by Zhang Hongchao, and originally started out as a store selling shaved ice and cold drinks. 'Let people around the world eat well and drink well for just two American dollars,' Hongchao previously told Chinese state media about his strategy for the business. Over 99 percent of the bubble tea chain's stores are franchised, with most of their revenue coming from selling food materials, equipment, and packaging to its franchisees. Although Mixue Bingcheng does have the highest number of locations worldwide, its revenue is still behind other large drink chains in the U.S., such as Starbucks and Tim Hortons. Its growth is rapid, though. According to its prospectus, Mixue's net profit jumped 42 percent to 3.49 billion yuan ($479 million) in the first nine months of 2024 from the same period in the previous year. Its revenue increased 21 percent to 18.7 billion yuan ($2.6 billion) in the first nine months of 2024. Earlier this week, McDonald's revealed the breakfast orders of various celebrities the day after the Oscars celebrations. The commercial started with the time stamp of 9:14 a.m. at a McDonald's restaurant in Hollywood. The clip showed a receipt machine churning out the orders, such as Colman Domingo's Egg McMuffin meal — which comes with hash browns and a coffee — with strawberry jelly and ketchup on the side. Actor Teyana Taylor, who attended the Vanity Fair Oscar Party on Sunday, scarfed down McDonald's Hotcakes (pancakes) with egg and sausage, a McChicken Biscuit with cheese, and a side of strawberry jelly and butter. Singer Rosalía, who also attended the after-party, ordered a McGriddles — a breakfast sandwich with bacon, egg, and cheese — with a mango-pineapple smoothie and a mayo packet. In February, McDonald's reported a fourth-quarter net income of $2.02 billion, or $2.80 per share, down from $2.04 billion, or $2.80 per share, a year earlier. The fast food chain's sales suffered after the Centers for Disease Control and Prevention linked a fatal E. coli outbreak to its Quarter Pounder burgers.
Yahoo
07-03-2025
- Business
- Yahoo
McDonald's dethroned as world's largest fast food chain by company with no restaurants in the US
McDonald's is no longer the largest restaurant chain in the world. Mixue Bingcheng is a Chinese bubble tea and ice cream chain with more than 45,000 restaurants worldwide as of September 2024, while the number of McDonald's restaurants all over the world is around 41,800, according to Statista via Chowhound. The Asia-based fast-food chain is known for selling soft-serve ice cream cones for one yuan (15 cents) and drinks ranging from between 2 to 8 yuan (30 cents to $1.20). Despite its huge number of locations, 90 percent of them are in China. There are also outlets in Indonesia, Vietnam, and Malaysia. There isn't a single location in the United States. Mixue Bingcheng was founded in 1997 by Zhang Hongchao, and originally started out as a store selling shaved ice and cold drinks. 'Let people around the world eat well and drink well for just two American dollars,' Hongchao previously told Chinese state media about his strategy for the business. Over 99 percent of the bubble tea chain's stores are franchised, with most of their revenue coming from selling food materials, equipment, and packaging to its franchisees. Although Mixue Bingcheng does have the highest number of locations worldwide, its revenue is still behind other large drink chains in the U.S., such as Starbucks and Tim Hortons. Its growth is rapid, though. According to its prospectus, Mixue's net profit jumped 42 percent to 3.49 billion yuan ($479 million) in the first nine months of 2024 from the same period in the previous year. Its revenue increased 21 percent to 18.7 billion yuan ($2.6 billion) in the first nine months of 2024. Earlier this week, McDonald's revealed the breakfast orders of various celebrities the day after the Oscars celebrations. The commercial started with the time stamp of 9:14 a.m. at a McDonald's restaurant in Hollywood. The clip showed a receipt machine churning out the orders, such as Colman Domingo's Egg McMuffin meal — which comes with hash browns and a coffee — with strawberry jelly and ketchup on the side. Actor Teyana Taylor, who attended the Vanity Fair Oscar Party on Sunday, scarfed down McDonald's Hotcakes (pancakes) with egg and sausage, a McChicken Biscuit with cheese, and a side of strawberry jelly and butter. Singer Rosalía, who also attended the after-party, ordered a McGriddles — a breakfast sandwich with bacon, egg, and cheese — with a mango-pineapple smoothie and a mayo packet. Sign in to access your portfolio
Yahoo
07-03-2025
- Business
- Yahoo
McDonald's dethroned as world's largest fast food chain by company with no restaurants in the US
A new restaurant has bested McDonald's in the number of locations they have worldwide. Mixue Bingcheng is a Chinese bubble tea and ice cream chain with over 45,000 restaurants worldwide as of September 2024, according to CNN, while the number of McDonald's restaurants all over the world is around 41,800 as of 2023, according to Statista via Chowhound. The fast-food chain is known for selling soft-serve ice cream cones for one yuan (15 cents) and drinks ranging from between 2 to 8 yuan (30 cents to $1.20). Despite its high number of locations, 90 percent of them are in China. There are also locations in the Asia Pacific region, including Indonesia, Vietnam, and Malaysia. There isn't a single location in the United States. Mixue Bingcheng was founded in 1997 by Zhang Hongchao, and originally started out as a store selling shaved ice and cold drinks. 'Let people around the world eat well and drink well for just two American dollars,' Hongchao previously told Chinese state media about his strategy for the business. Currently, over 99 percent of the bubble tea chain's stores are franchised, with most of their revenue coming from selling food materials, equipment, and packaging to its franchisees. Although Mixue Bingcheng does have the highest number of locations worldwide, its revenue is still behind other large drink chains in the U.S., such as Starbucks and Tim Hortons. The news of the fast food chain's success comes just days after McDonald's revealed celebrities' morning-after breakfast orders. On Monday the home of the Big Mac uploaded a YouTube video revealing the orders of stars from Colman Domingo to Julia Fox. The commercial started with the time stamp of 9:14 a.m. at a McDonald's restaurant in Hollywood. The clip showed a receipt machine churning out the orders, such as Domingo's Egg McMuffin meal — which comes with hash browns and a coffee — with strawberry jelly and ketchup on the side. He also ordered a bottle of water and a strawberry-and-banana smoothie. Actor Teyana Taylor, who attended the Vanity Fair Oscar Party on Sunday the night before she scarfed down some fast food, ordered McDonald's Hotcakes (pancakes) with egg and sausage, a McChicken Biscuit with cheese, and a side of strawberry jelly and butter. She also got a syrup packet and a large orange juice. Singer Rosalía, who also attended the Vanity Fair after-party, ordered a McGriddles — a breakfast sandwich with bacon, egg, and cheese — with a mango-pineapple smoothie and a mayo packet. Nope star Keke Palmer got oatmeal with fruit and maple syrup, and a side of hash browns. Emilía Perez star Édgar Ramírez's treated herself to a breakfast of McGriddle with bacon, egg, and cheese, an order of hash browns, and a cup of coffee. Sign in to access your portfolio
