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Chinese ice cream and tea chain Mixue Bingcheng has expanded to South Korea, in Seoul’s Dongjak-gu area, and will soon open in Japan ahead of a planned IPO.
It is the Dongjak-gu area, where local and Chinese students often gather.
Mixue's first store in Japan will open in Tokyo’s bustling district Omotesando.
The brand has over 21,000 locations in China. It expanded into Vietnam and Indonesia, with approximately 600 shops.
Mixue opened more than 7000 locations last year and seeks to reach 30,000 stores by the end of this year thanks to its affordable franchising fees.
With trademark registrations in about 30 markets, including the US and Europe, the brand hopes to strengthen its presence abroad. The chain submitted an application for an IPO on Shenzhen's main market earlier this year with the goal of raising $918 million.
