HANGZHOU — Sweet, milky and colorful — bubble tea is wildly popular in China, where people sipping through straws from large plastic cups is a common sight in high streets and shopping malls across the country.
But there's fresh competition brewing in the vast market, characterized by ultra-cheap products that are striking a chord with China's increasingly frugal young consumers. Bubble tea — which classically includes tapioca balls and comes in a wide range of flavors, with or without milk — has gained huge popularity in China, coinciding with an economic boom in recent decades that propelled living standards upwards.
Chief among the budget upstarts is Mixue Bingcheng, founded by a pair of brothers in 1997 as a humble shaved ice shop in the hinterland province of Henan.The company — whose name translates as 'honey snow ice city' — has expanded rapidly, with its smiling snowman mascot and bright red signs adorning about 32,000 stores in China and around 4,000 more in 11 other nations as of last year.
Transforming China's Bubble Tea Craze
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