Mixee ice cream and tea can be unknown to many of us, but the Chinese company has more outlets than McDonald’s and Starbucks.
On Monday, the shares of the teaspoon of the bubble chain jumped by more than 40% as they began to trade on the Hong Ho -Connoil Stock Exchange.
The company raised $ 444 million (£ 352 million) in the largest initial public offer of Financial HUB (IPO) year.
The popularity of Mixue is coming because many people in China face the economic challenges of the country – including the crisis of property and poor consumer and business trust. Sales of ice cream and drinks on average six Chinese yuan ($ 0.82; $ 0.65).
In 1997, the company was founded by Zhang Hongchao, a student at the University of Finance and Economics at Henan University, as a part -time job to help his family’s finances.
His full name Mìxuě Bīngchéng means “Honey Snow LED Grad”, with shops decorated with snowstorms and playing official tune of the company on a loop.
According to Mixue, there are more than 45,000 stores in China and 11 other countries, including Singapore and Thailand. The company also said it was planning to continue expanding.
This is compared to “over 43,000 locations” for McDonald’s and Starbucks ’40 .576 outlets.
Although it is often considered the largest Chinese tea for bubbles, ice drinks and a chain of ice cream, it acts more like a supplier of raw materials than as a traditional brand.
Unlike Starbucks, which directly manages more than half of its stores, almost all of Mixue’s outlets are managed by franchise.
The strong market debut of mixe is opposite to the smaller rival rubber, which in February the first day of trading in February saw its share.
Last year, shares in the owner of the Bubble Chabaidao Tea chain also fell on their debut on the market.
