Mixue Group, founded in 1997 and headquartered in Zhengzhou, Henan province, has grown from a single shaved-ice stall into China's largest freshly-made beverage chain by store count, surpassing global giants like Starbucks and McDonald's in China with over 36,000 franchised stores worldwide. The company operates under two primary brands: Mixue Ice Cream & Tea, offering affordable soft-serve ice cream, fruit teas, and milk teas at price points typically below 6 RMB, and Lucky Cup, a premium coffee brand targeting the mid-market segment. Mixue's hyper-affordable pricing model and franchise-first expansion strategy have enabled it to penetrate deeply into China's lower-tier cities and county-level markets, serving a mass consumer base that international chains have historically underserved. The company went public on the Hong Kong Stock Exchange in March 2025.

Mixue's competitive advantage is built on its extreme cost leadership strategy enabled by a fully owned and vertically integrated supply chain—from tea plantations and coffee bean sourcing to self-operated sugar, dairy, and flavoring production facilities—that allows it to supply franchisees at costs that competitors cannot match. The company's iconic "Snow King" mascot and catchy brand jingle have achieved viral cultural status among Chinese Gen-Z consumers, creating brand recognition that drives foot traffic and franchisee demand without requiring significant advertising expenditure. In 2025, Mixue published its ESG report detailing its franchisee support and quality assurance systems, including a comprehensive food safety training program for over 100,000 store-level employees. The company has also initiated sustainable packaging programs, introducing paper straws, biodegradable cups in select markets, and cup-reduction incentives across its store network.

蜜雪集团成立于1997年，总部位于河南郑州，已从一家刨冰摊位发展成为中国门店数量最多的现制饮品连锁企业，全球超过36,000家加盟门店，在中国超越星巴克和麦当劳等全球巨头。公司以两个主要品牌运营：蜜雪冰城，提供定价通常在6元以下的实惠软冰淇淋、果茶和奶茶；以及幸运咖，一个瞄准中端市场的高性价比咖啡品牌。蜜雪的超低价定价模式和加盟优先的扩张策略使其能够深入渗透中国低线城市和县级市场，服务国际连锁企业历来覆盖不足的大众消费群体。公司于2025年3月在香港联交所上市。

蜜雪集团的竞争优势建立在其极致的成本领先策略之上，由完全自有的垂直整合供应链支撑——从茶园和咖啡豆采购到自营糖、乳制品和调味料生产设施——使其能够以竞争对手无法匹敌的成本为加盟商供货。公司标志性的「雪王」吉祥物和洗脑的品牌主题曲在中国Z世代消费者中获得了病毒式的文化地位，创造了无需大量广告支出就能推动客流和加盟商需求的品牌认知度。2025年，蜜雪发布了ESG报告，详细阐述了其加盟商支持和质量保证体系，包括覆盖超过10万名门店员工的全面食品安全培训计划。公司还启动了可持续包装计划，在部分市场引入纸吸管、可生物降解杯，并在门店网络中推行减杯激励措施。