The ice cream and mixed tea may not be familiar to many of us, but the Chinese company has more outlets than McDonald’s and Starbucks.
On Monday, the actions of the bubble tea chain jumped almost 30% when they started to negotiate themselves on the Hong Kong Stock Exchange.
The company has raised $ 444 million (352 million pounds Sterling) in the largest initial public public offering (IPO) of the year.
The popularity of mix comes because many people in China are struggling with the economic challenges of the country – including a real estate crisis and low confidence in consumers and businesses. He sells ice cream and drinks for an average of six Chinese yuan ($ 0.82; £ 0.65).
The company was founded in 1997 by Zhang Honghao, a student at the Henan Finance University and Economy, as a part -time job to help the finances of his family.
Its full name Mìxuě Bīngchhéng means “Honey Snow Ice City”, with its stores decorated with its Snow King mascot and playing the official melody of the company on a loop.
According to Mixue, it has more than 45,000 stores across China and 11 other countries, including Singapore and Thailand. The company also said it was planning to continue to develop.
This is compared to “more than 43,000 locations” for the 40,576 points of sale of McDonald’s and Starbucks.
Although it is often considered the largest bubble tea in China, ice drinks and the ice cream channel, it works more as a supplier of raw materials than a traditional brand.
Unlike Starbucks, which directly operates more than half of its stores, almost all of the mixture of mixes are led by franchisees.
The first beginnings of the mixed market contrast with its small rival shoe, which saw its share slide the first day of negotiation in February.
Last year, the actions of the owner of the tea chain in Bulles Chabaida also fell from their debut on the market.
