Chinese tea chain Mixue expands into South Korea and Japan

(Source: Mixue/Facebook)

Chinese ice cream and tea chain Mixue Bingcheng has expanded its presence into South Korea and Japan ahead of a planned IPO, according to PanDaily. 

Founded in 1997, the chain is known for selling beverage and ice-cream items at about US$1. The first Mixue store in South Korea has recently opened in Seoul’s Dongjak-gu area, where local students and Chinese students often gather. 

Meanwhile, the first Mixue Japan store is expected to open its doors in Tokyo’s bustling district Omotesando. 

Mixue Bingcheng has more than 21,000 locations in China. The brand expanded into Vietnam and Indonesia, with approximately 600 shops across these markets. Having low franchising fees, Mixue opened more than 7000 locations last year and is expected to reach 30,000 stores by the end of this year. 

The brand aims to increase its presence in international markets, registering its trademark in about 30 markets, including the US and Europe. Earlier this year, the chain applied for an IPO on Shenzhen’s main board, aiming to raise about $918 million. 

Further reading: Malaysian bubble-tea chain Tealive has expanded its footprint in North America with its first store in Ottawa, Canada. 

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