business · HK01

Mixue Bingcheng Retreats from Hong Kong Amid High Rent, Store Closures

HK01 · 1 SOURCESabout 3 hours ago4 MIN

Summary

Mixue Bingcheng's departure from its Billion Centre Mong Kok store highlights the challenges facing mainland China's low-price retail chains in Hong Kong's expensive commercial property market. The 824-square-foot unit on Sai Yeung Choi Street, previously rented at HK$190,000 per month, has been re-let to TamKoKo at HK$160,000 monthly. The closure underscores broader questions about the viability of "high-volume, low-margin" business models in one of the world's most expensive retail markets.

Key Points

Mixue Bingcheng's Mong Kok store at Billion Centre (G03-G04, Ground Floor, 1N Sai Yeung Choi Street) has closed, with rent dropping 15.8% to HK$160,000 per month under the new tenant
New occupant TamKoKo (泰柯茶園), a mainland Thai milk tea brand founded in Suzhou in April 2025, plans to open its first Hong Kong branch in September
At TamKoKo's signature price of HK$28 per cup, the shop must sell approximately 5,714 cups monthly just to cover rent
Mixue Bingcheng entered Hong Kong in late 2023 and operated nine stores by end of 2024, including two locations in Mong Kok within 300 meters of each other
The brand has shuttered at least five Hong Kong outlets this year, including locations in Tsim Sha Tsui, Yuen Long, Shatin, and Tsuen Wan

Why It Matters

Mixue Bingcheng's retreat from Hong Kong signals that mainland-style "low-price, high-volume" strategies face structural headwinds in the city's high-rent, high-wage environment. The closure of multiple outlets within a short timeframe may prompt other mainland budget brands to reassess their Hong Kong expansion plans amid intensifying concerns about operational sustainability .