Oxxo has more stores than any US chain

If you were to create a symbol representing Mexico in the 21st century, what would you pick? The flag flying proudly is an option, as are the green and red jerseys of the national team.

Or maybe, to ensure maximum coverage, you’d go with a red-and-yellow storefront with an instantly recognizable logo that looks a bit like a hot dog from above.

This is because Oxxo, the chain of convenience stores founded a half-century ago in the northern city of Guadalupe, Nuevo León, has spread across the country faster than anything ever seen before. By the end of 2025, there were over 24K locations in Mexico alone.

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The Rise of Moxxoco

The Oxxo slogan is a la vuelta de tu vida, meaning “around the corner from your life,” and that slogan couldn’t be more accurate. There seems to be one in every block of the country.

Oxxo goes beyond a traditional convenience store by also being a place where anyone can pay their utility bills, make bank deposits, and even make e-commerce payments with cash. By integrating its cash register with 14 of Mexico’s biggest banks, Oxxo has become a teller window for institutions holding some 80% of the country’s deposits.

Parent company FEMSA, which dominates the regional soda market as a giant Coca-Cola bottler, expanded the vision to make the convenience store into a real player in the fintech space with Spin by Oxxo. Perhaps unsurprisingly, then, the Oxxo brand now brings in more revenue to FEMSA than even its Coke billions.

The International Comparison

No US chain, from McDonald’s to Starbucks to even gas stations like Chevron, comes close to the sheer presence of Oxxo. The closest, Dollar General, still counts about 4K fewer US stores than Oxxo counts Mexican ones, despite the US having more than two and a half times Mexico’s population. Store counts come from FEMSA’s quarterly reports and ScrapeHero’s location data on the biggest US chains.

In fact, there are more Oxxo locations to be found in Mexico than even Subway locations across the entire US, despite the fact that the latter is fully franchised and run independently. For its part, FEMSA continues to operate every Oxxo—the resulting standardization means you’ll have the same customer experience whether you visit a store in Merida or Tijuana.

No wonder FEMSA has been able to open multiple new Oxxo stores every day for years.

The Next Frontier

Now, we should note that Oxxo’s hegemony in Mexico does not mean there isn’t still work to be done globally. McDonald’s famously has over 40K locations worldwide, with only about a third of those in its home country.

To compare, Oxxo has already rolled out over a thousand new stores outside Mexico, including in Brazil, Colombia, Peru, Europe, and even right across the border in the American Southwest.

Source: FEMSA quarterly reports, ScrapeHero

Source: FEMSA quarterly reports

So yeah, the red-and-yellow may for now be a symbol of Mexican pride and Latin American ingenuity. But nearly 50 years on from its first store, Oxxo is on track to become a global heavyweight.