$MIXUE GROUP(02097)$ Honestly, $Chagee Holdings Limited(CHA)$ just can’t compete with MIXUE, especially when it comes to supply chain. In the tea industry, once it scales up, it’s not just about the taste, but the supply chain.
For chain businesses, competitors can easily copy and catch up. I’ve seen a lot of jasmine milk tea shops in Shanghai lately, and they’re just as good as Bawang Tea, but at a cheaper price.
However, I’ve never seen anyone do low-cost fresh fruit tea and milk tea as well as Mixue Ice City. With its low-cost advantage, successful overseas expansion, and strong supply chain, Mixue Ice City still reigns as the most competitive player in the industry.
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