Mixue Ice Cream Chain Surpasses McDonald's in Store Count

Mixue, a Chinese soft-serve ice cream chain, has rapidly expanded to over 47,000 locations worldwide, surpassing McDonald's in sheer store count. Founded by brothers Zhang Hongchao and Zhang Hongfu, Mixue sells cones for as little as 45 cents.

The company's success can be attributed to its strategy of targeting second- and third-tier cities, where competition is less fierce. The brothers initially opened stands in workers' dorms, village markets, and university towns, focusing on affordability and accessibility.

In an interview, Zhang Hongchao drew parallels between Henan province and Ohio, highlighting the importance of understanding local markets. Mixue's stock has gone public in Hong Kong, with a valuation of around $10 billion, although it lags behind McDonald's at $180 billion and Dollar General at roughly $26 billion.