Overview
On September 30, 2025, Mixue, China’s leading milk tea chain, announced its acquisition of Fulujia Fresh Beer — the country’s largest freshly tapped beer brand. The move marks Mixue’s bold entry into a new beverage category, expanding from milk tea and coffee into the fast-growing freshly made draft beer market.
About Fulujia Fresh Beer
Founded in 2021, Fulujia pioneered the “fresh beer-to-go” concept in China — offering chilled draft beer in takeaway cups priced between $0.8–$1.4 per 500 ml. Fulujia operates via standardized, franchised outlets similar to Mixue’s system
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- ~1,200 stores across 28 provinces
- c.$21 million LTM revenue
- $150 k FY24 NPAT
This innovative approach allows consumers to enjoy freshly tapped beer conveniently and affordably, creating a new niche in China’s beverage market
Market Opportunity: Tapping an Under-Served Segment
The bubble-tea market in China is increasingly crowded. Top players like Mixue (36.2 k stores), Guming (9.8 k), and Chagee (6.2 k) dominate a saturated field. By contrast, China’s draft-beer market remains largely untapped — Fulujia is the only brand with over 1k outlets. This gap shows massive room for growth as Chinese consumers increasingly embrace freshly made beer experiences.
Strategic Alignment with Mixue’s Affordable Quality Model
Fulujia’s “high-quality yet affordable” positioning mirrors Mixue’s long-standing brand philosophy. Both brands share a commitment to value-for-money beverages, rapid scalability, and standardized franchise operations — making this acquisition a natural strategic fit.
Synergies in Operations and Scale
Mixue’s acquisition of Fulujia unlocks multiple collaboration opportunities:
1. Operational & Supply Chain Integration: Fulujia gains access to Mixue’s vast logistics and procurement network, reducing costs and improving efficiency.
2. Franchise Acceleration: Mixue’s proven expertise in rapid franchise rollout can fast-track Fulujia’s national expansion.
3. Shared Infrastructure: Co-locating or dual-branding stores, cross-training franchisees, and sharing IT systems enhance scale and consistency.
4. Product Innovation: The combination of milk-tea and beer product lines opens avenues for creative flavor development and new consumer experiences.
Did you know that?
A notable detail behind the deal — Mixue’s CEO, Zhang Hongfu, and Fulujia’s founder, Tian Haixia, are husband and wife.
This personal and professional alignment explains the strong philosophical and operational synergy between the two brands.
Conclusion
Mixue’s acquisition of Fulujia represents more than diversification — it’s a strategic evolution from a single-category leader into a multi-beverage powerhouse. By combining affordability, scale, and innovation, Mixue is positioning itself to dominate both daytime and evening beverage occasions.
