
Over seven decades, the American discount chain built a 21,000-store juggernaut on a simple formula: Go where Walmart won’t, keep stores bare-bones and sell cheap staples to people stretching their paychecks. Halfway across the world, the Zhang brothers independently saw the same opportunity in China’s unglamorous interior. Today, Mixue is the world’s biggest food-and-beverage chain, with more than 47,000 locations last year, according to research firm Technomic, and the company has added thousands more this year.















