A leading bubble tea chain has made history by surpassing Starbucks in store count, solidifying its position as the world’s largest beverage chain. Following its stock market debut, the company’s shares surged, reflecting strong investor confidence in the booming bubble tea industry. Chinese bubble tea and ice cream chain Mixue Ice Cream and Tea has surpassed global giants like McDonald's and Starbucks in store count, despite being relatively unknown to many outside Asia.

Originating in Taiwan, bubble tea has gained immense popularity worldwide, particularly among younger consumers. The brand’s ability to adapt flavors and cater to regional tastes has contributed to its explosive growth. With a strong presence in Asia and a growing foothold in North America and Europe, its expansion shows no signs of slowing down.

Despite its success, the company faces challenges, including supply chain constraints and competition from other beverage giants. However, its innovative menu, digital engagement, and aggressive expansion strategy position it for continued dominance in the market. On Monday, the company's shares soared by over 40% during its debut on the Hong Kong Stock Exchange, marking a strong entry into the public market. The listing raised $444 million (£352 million), making it the largest initial public offering (IPO) of the year in Hong Kong.

Mixue's success comes at a time when China is facing significant economic challenges, including a struggling property sector and weakened consumer confidence. The brand has gained popularity by offering affordable ice creams and beverages, with an average price of just six Chinese yuan ($0.82; £0.65). This budget-friendly pricing has made it a preferred choice among cost-conscious consumers. With its rapid expansion and competitive pricing, Mixue continues to strengthen its presence in both domestic and international markets, positioning itself as a dominant force in the global beverage industry.