Vietnam News

Starbucks closes third Vietnam outlet

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Starbucks Vietnam will close its Hanoi outlet after eight years, following the closure of two locations in Vietnam last year.

The Starbucks Lan Vien outlet in Hoan Kiem District will operate until June 30, the company said in a Facebook post.

Last year, the coffee chain had closed another outlet in Hoan Kiem District and one in Ho Chi Minh City’s District 1.

Patricia Marques, CEO of Starbucks Vietnam, said earlier this year that the company was finding it challenging to expand the number of outlets in Vietnam due to difficulties in negotiating rent prices.

The company, however, will continue to expand in Vietnam by focusing on new urban areas where there is a lack of services, she added.

She also said that in central districts, Starbucks has observed that customers tended to order more takeaways, so it was considering opening small takeaway outlets where customers can pick up their drink right away.

Starbucks has 78 outlets nationwide, while its competitor Highlands Coffee’s has 500 and The Coffee House has 156.

The Covid-19 pandemic has forced several food and beverage chains to close outlets amid plunging revenue.

The Coffee House closed over 20 outlets last year, while Soya Garden shut down its last one in HCMC. Soya Garden still has eight outlets in Hanoi.

By Dat Nguyen – VnExpress.net – June 25, 2022

Starbucks closes third Vietnam outlet
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