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Mixue Becomes World's Largest Fast-Food Chain

Wall Street Journal US Business •
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Mixue has flooded Chinese cities with 45-cent soft-serve cones and has more stores than McDonald’s. The Chinese dessert and beverage chain has rapidly expanded across China using a low-cost, high-volume model similar to Dollar General’s strategy in the U.S. By focusing on affordable pricing, simple menus, and dense urban placement, Mixue has grown to operate more locations globally than McDonald’s. Its success stems from replicating a proven formula: ultra-low prices, minimal overhead, and aggressive store saturation in tier-2 and tier-3 cities.

The chain’s signature product—ice cream cones sold for just 45 cents—has driven massive foot traffic and repeat purchases. Mixue’s expansion reflects a broader trend of Chinese brands adopting disruptive retail models to dominate local markets before going global. Unlike Western fast-food giants, Mixue prioritizes speed and scale over premium branding, leveraging supply chain efficiency and franchise-friendly terms to accelerate growth.

Its rise challenges traditional assumptions about what it takes to become the world’s largest food service operator.