Mixue, the Chinese budget beverage chain that entered Hong Kong in 2023, is continuing to scale back its presence in the city. Its first HK store, located at the Bank Centre in Mong Kok, has recently closed, with machines removed and the shop sign taken down, according to observations by online users.
The Mong Kok Bank Centre outlet opened in December 2023 as Mixue's first store in HK. Known for its low-priced drinks, the store offered its signature fresh lemon water for HK$9, fruit sundae for HK$13 and taro balls with grapes for HK$17.
The store attracted long queues when it first opened, with customers reportedly waiting for more than half an hour. According to media reports, the outlet occupied about 412 square feet, with its monthly rent reportedly reaching around HK$200,000. Based on the HK$9 price of its lemon water, the store would have needed to sell about 22,000 cups a month just to cover the rent.
Mixue had previously pursued an aggressive expansion strategy in HK, opening eight stores within its first 10 months. At one point, two outlets in Mong Kok were located just 300 metres apart.
The brand, however, has been steadily closing stores in HK since the beginning of this year. Including the Bank Centre outlet, six stores have closed this year, including outlets at MOKO in Mong Kok, Nathan Road in Tsim Sha Tsui, Yuen Long, Shek Mun in Sha Tin and Nina Mall in Tsuen Wan.
Mixue now has only three outlets still operating in HK, located in Jordan, Tai Po and Causeway Bay.
Related News:
Watch This | Mixue lands in US as Chinese tea beverage brands go global
Comment