Mixue Closes 89 Overseas Stores, H1 Net Profit Dips 15%
Mixue, the world's largest food and beverage chain, cut 89 overseas stores, notably in Vietnam and Indonesia. The company's net profit fell 15% in the first half of 2026, despite a 2.3% revenue increase.
Overseas Footprint Shrinks Amid Profit Decline
Mixue Group, the world's largest food and beverage (F&B) chain, reduced its overseas store count by 89 outlets in the first half of 2026. This contraction included many locations in Vietnam and Indonesia. The company's net profit declined by 15% year-on-year during the same period. Mixue Group reported these figures in its latest financial statement.
Revenue Grows Despite Profitability Pressure
The F&B giant's net profit reached 2.32 billion yuan in the first half of 2026. This figure comes even as revenues increased by 2.3%, totalling 15.2 billion yuan (US$2.26 billion). Mixue attributed the profit decrease to higher cost of sales and increased selling and distribution expenses. The company did not disclose specific closure numbers for each market.
Strategic Shift in Key Asian Markets
Mixue Group stated that store operational quality improved significantly in Vietnam and Indonesia. This adjustment supports more sustainable, long-term growth. As of June 30, the chain operated 63,987 outlets worldwide, with 59,609 located in mainland China. Indonesia and Vietnam remain Mixue's two largest overseas markets. Vietnam had 1,304 stores as of September 2024, according to its early 2025 Hong Kong IPO prospectus.
Mixue plans continued expansion across Southeast Asia, alongside new market entries in Central Asia and the Americas. Its strategy involves deepening localised operations and shifting focus from smaller outlets to modern, larger-format stores at prime locations.
This move could intensify competition in key Asian F&B markets, pushing local rivals to adapt their offerings and store formats to a more quality-focused, larger-scale model.
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