Our founder and CEO Miljan Prmović spoke with journalist Milenko Krišan about the phenomenon that has taken the world by storm with the Bubble Tea drink. The strategy of the Chinese company Mixue is particularly interesting. Here are some impressions:
In China, Mixue is more popular than Starbucks. It sells 10-15 times more units and has 4-5 times more outlets. But even though 70% of Chinese have never been to Starbucks, it generates slightly more revenue (as a premium brand).
The beverage industry itself is worth several billion dollars, and it is estimated that sales in the Bubble Tea segment alone will be worth around $8 billion globally in less than 10 years.
Unlike Dubai Chocolate, which went viral but didn’t have the infrastructure for corporate brand management in place, Bubble Tea embraced the virality. Photogenicity (instagramability), a wide variety of flavors, creative packaging and textures, a good pricing strategy, and franchising are the reasons for Mixue’s great success.
