China’s Mixue, the world’s largest food and beverage chain, shut down underperforming outlets in Vietnam and Indonesia for the first time and reported a rise in profits.
Its net profit jumped 44% year-on-year to CNY2.72 billion (US$383 million) as revenues increased 39% to CNY14.87 billion. The company said it closed stores in the two markets to optimize operations.
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Mixue drinks. Photo courtesy of the company |
Mixue did not specify store numbers for each country, but reported having more than 4,700 outlets outside China at the end of June, 162 less than at the end of 2024.
Cai Weimiao, executive director and head of frontend supply chain, said some stores were replaced with new ones in different locations, which increased daily sales by more than 50%.
To improve service quality, Mixue has been taking foreign employees to China for training since late 2024.
This year the company plans to establish a global business support center to strengthen back-end operations.
In China, Mixue continues to expand its network, deepen its presence in lower-tier markets and improve operational quality across the system.
It has around 48,300 stores nationwide. It said previously it sells around 5.8 billion cups of beverages a day, the key items being lemonade, milk tea and fruit tea, which cost VND10,000–30,000 in Vietnam.
