The 5th Largest Fast Food Chain in the World is a Bubble Tea Company: Mixue

With over 22,000 franchised stores worldwide, Mixue is the fifth largest fast food chain in the world by outlet after McDonalds, Subway, Starbucks, and KFC. Mixue sells flavored teas, soft serve ice cream, and bubble or boba tea. Boba tea is a milk tea with chewy tapioca balls. I can assure you that it is delicious, and you should try some as soon as possible.
The market for boba tea is twice that of coffee in China at over $20 billion dollars. As the market has saturated and slowed in China, these Chinese boba tea companies are expanding into southeast asia where that market is worth $4 bilion.
Mixue was founded in 1997 and opened its first store in 2018 Vietnam. Today, it has over 1,500 stores in Vietnam. The strategy is cheap drinks. The Stores feature board games, magazines, picture books, and soft toys. On the weekends it is full of parents with children. During the week, it is full of students and office workers.
95% of the firms $1.5 billion in revenue in 2021 came from selling ingredients, packaging, and equipment to franchise-holders because nearly all Mixue branches are franchises. The company is targeting Indonesia, the Philippines, Thailand, and Vietnam, all countries with rapidly expanding economies. Mixue plans to list on the Shenzhen Stock Exchange.

Works Cited:
https://en.mxbc.com/
https://www.economist.com/asia/2023/04/13/chinese-bubble-tea-chains-go-viral-in-south-east-asia