GoKawiilMixue's bargain ice-cream chain surpasses McDonald's in global store count
Mixue, the Chinese soft-serve and tea chain founded by brothers Zhang Hongchao and Zhang Hongfu, now operates more than 47,000 stores worldwide, more than McDonald's, per the Wall Street Journal. The company built its footprint by targeting smaller Chinese cities and towns with cheap products, such as 45-cent cones, rather than competing in major urban markets. Mixue recently went public in Hong Kong and is valued around $10 billion.
GoKawiil's interpretation of the reporting above, not reported fact.
Mixue's rise shows how a low-cost, low-competition expansion strategy—similar to Dollar General's approach against Walmart—can outpace giants in scale even without matching their valuation. Its success in overlooked markets suggests a broader opportunity for retail and food brands to grow by avoiding saturated urban battlegrounds. The brothers' failed attempt at a premium spinoff also underscores the risk of abandoning a proven low-cost model.
- Mixue now has more locations globally than McDonald's, with over 47,000 stores.
- The chain grew by focusing on smaller Chinese cities and low prices rather than premium urban markets.
- Despite its store count lead, Mixue's $10 billion valuation trails far behind McDonald's $180 billion and Dollar General's $26 billion.
Source: entrepreneur.com — Jon Small, 2026-09-15
Published there as: “This Chinese Chain Has More Locations Than McDonald’s. They Did It By Copying This U.S. Discount Chain’s Playbook.”
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