World’s largest beverage chain Mixue shuts 428 overseas stores, many in Vietnam, Indonesia

China’s Mixue, the world’s largest beverage chain, closed 428 overseas stores last year, primarily in Vietnam and Indonesia, to enhance operational efficiency. Despite the closures, Mixue expanded in the U.S. and Kazakhstan and opened new stores in Malaysia and Thailand under the Lucky Cup brand. The company aims to optimize existing operations and transition to larger store formats in Vietnam, where it has 1,304 stores. Mixue reported a 35% revenue increase to RMB33.56 billion and a 33% rise in net profits to RMB5.93 billion last year.