Chinese fast food chain Mixue has announced an investment of R$3.2 billion to start operating in Brazil, with the promise of creating up to 25,000 jobs by the end of the decade. The decision was announced during President Luiz Inácio Lula da Silva's visit to China, which resulted in a R$27 billion Chinese investment package in various sectors of the Brazilian economy.

With more than 45,000 units in 12 countries, including China, Singapore and Thailand, the brand has overtaken giants such as McDonald's (43,000 units) and Starbucks (40,500 units) in terms of number of stores.

Mixue is known for its business model based on low-cost, high-turnover franchises, with affordable prices - on average R$4.70 per product - and a striking visual identity, which includes its Snow King mascot and colorful stores.

(Source: InfoMoney 25, on May 13)