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Update news coffee chains in vietnam
After seven years of operation, Starbucks Reserve, the most prime-location café of the American coffee giant in Ho Chi Minh City, has unexpectedly announced its closure. The high rental costs are believed to be the main reason.
Although the number of stores did not increase much, revenues still grew by double digits, at 11.6 per cent, reaching VNĐ590 trillion (US$24.1 billion).
While foreign coffee shop chains are facing so many hardships that they have to reduce their business scale or bid farewell to the Vietnamese market, more outlets of domestic coffee brands have been opened.
International coffee shop chains continue to seek opportunities in Vietnam by adapting to local needs and promoting the strength of their global brand.