Mixue Closes 428 Outlets for Efficiency, Including in Indonesia
Jakarta, CNBC Indonesia - The Chinese beverage giant Mixue closed hundreds of outlets in overseas markets throughout last year, including in Indonesia and Vietnam. This move is part of a strategy for efficiency and operational improvements.
In its latest financial report, the company stated that the number of international outlets decreased by 428 units. Although it did not detail the closure figures for each country, Mixue acknowledged that Indonesia and Vietnam were affected regions.
Citing VN Express on Friday (24/4/2026), the company explained that this step is focused on optimising the operations of existing outlets to support more stable and sustainable growth in the long term. On the other hand, expansion continues in several new markets.
Mixue has expanded its business to the United States and Kazakhstan, and opened its first outlets in Malaysia and Thailand under a different brand, namely Lucky Cup. Globally, the number of Mixue outlets reached 59,823 units by the end of last year, with the majority—or around 55,356 outlets—located in mainland China.
Indonesia and Vietnam have long been the two largest markets abroad. In Vietnam, the number of outlets reached 1,304 units as of September 2024, based on the prospectus document for its initial public offering (IPO) in Hong Kong.
In that country, the company is beginning to change its strategy by shifting from small-format outlets to larger ones. New outlets are now equipped with larger preparation areas, face directly onto the street, and are located at strategic points.
Mixue first entered Vietnam in 2018, initially focusing on Hanoi and the northern region, before expanding nationwide. Its main products include lemonade, ice cream, milk tea, and fruit tea at affordable prices.
The company keeps prices low by controlling the entire supply chain, from raw material production and logistics to research and quality control.
A 2024 report from the iPOS store management platform stated that Mixue is one of the major players reshaping the milk tea beverage market in Vietnam, particularly in the affordable price segment, through an aggressive franchise expansion strategy.
Looking ahead, the company stated it will continue to strengthen its presence in Southeast Asia, including expanding its franchise partner network. In terms of performance, Mixue’s revenue surged 35% to 33.56 billion yuan, or approximately US$4.9 billion, last year. Meanwhile, net profit rose 33% to 5.93 billion yuan.