2025年3月,蜜雪冰城登陆港股上演“冰雪奇迹”:上市首日暴涨43.21%,,市值冲破千亿港元。此后,股价一度飙升至618.5港元/股,研报追捧声不绝于耳。然而,绚丽的资本烟花背后,蜜雪冰城在经营上又面临哪些问题?线下门店趋于饱和 蜜雪冰城的加盟生态恶化点位饱和引发自噬:全国门店超4万家,挤占三线以下城市。如,河南某县城3公里内竟有8家门店,加盟商直言:“竞品消失了,我们开始抢自己人生意!”加盟商...
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