# expansion risk

How a Northern Pizza Buffet Won China’s Students — and Why Its IPO Is a Risky Bet

Bigge Pizza, a northern Chinese self‑service pizza buffet, has become a youth cultural phenomenon and is preparing for a Hong Kong IPO after rapid revenue growth. Its model — crowdsourced menu innovation, aggressive student pricing and a social media‑fuelled fan base — drives strong weekday traffic, but national expansion faces heavy costs, financial leverage and entrenched southern competitors.