In early 2025, Aice successfully raised a new round of funds from its major shareholders which include Mengniu Dairy, to accelerate its expansion into Southeast Asia and other international markets.
Aice, a leading Chinese ice cream brand, has successfully established itself since 2015, in Southeast Asia with annual sales exceeding Rmb 83 billion (US$11.47 billion). Aice is now the leading ice cream player in Indonesia, and it ranks 2nd in the Philippines, and continues to strengthen its position in Vietnam.
Aice success in ASEAN is attributed to its in-depth market research targeting strong demand for affordable, high-quality products. To address cross-border logistics challenges and offer its products at competitive prices, Aice established 3 local factories to ensure it can flexibly and rapidly adapt to local market preferences, optimize costs, and build a robust local distribution network.
Within just 3 years of entering Indonesia, its first ASEAN market, Aice’s annual sales soared from Rmb 20 million (US$2.76 million) to Rmb 1.2 billion (US$165.8 million). The company has since expanded successfully into the Philippines, Vietnam, Thailand, Laos and Cambodia, making it one of Southeast Asia’s fastest-growing companies and a benchmark for Chinese brands going global.
In 2024, its factory in the Philippines officially started operation, further enhancing its regional manufacturing footprint and enabling broader distribution across Southeast Asian and beyond.
Aice success is also attributed to its strategy of delivering ‘healthy, innovative, quality products with value’. Its in-depth market research led to continuous innovation in product formats and flavours. Each year, it has launched multiple best-selling products.
Aice initial launch in Indonesia focused on smaller retailers in major cities, and providing them with free ice cabinets. This has led to expansion of its retail network across the whole archipelago resulting in rapid market share gains. Aice also built brand awareness through various sponsorships of sporting events.
In this latest round of funding, Aice plans to deepen its presence in existing Southeast Asian markets, further strengthening its supply chain and brand competitiveness, while actively expanding into new international markets. This new investment mainly from Mengniu underscores its strong confidence in Aice brand growth potential particularly in Southeast Asia.
