U.S.-based Starbucks Coffee Company opened its first store in Vietnam at the New World Hotel in downtown HCMC last Friday, sparking curiosity in a country with a different culture of coffee drinking. With a total area of 500 square meters, the store is under the management of Coffee Concept Vietnam, a subsidiary of Hong Kong’s Maxim Group. John Culver, president of Starbucks Coffee China and Asia-Pacific,... 

The U.S.-based Starbucks Coffee Company announced on Thursday it will open its first store in Vietnam next month via the partner Coffee Concepts Vietnam Limited. Jinlong Wang, President of Starbucks Asia Pacific, told the Daily that the only partner licensed to operate Starbucks stores in the Vietnamese market was Coffee Concepts Vietnam, a subsidiary of Hong Kong Maxim’s Group. The signing with... 

Thanks to new international brands flocking to Vietnam, especially the presence of McDonald’s and Starbucks in the coming time, the local retail space segment might see a stronger competition in the fast-food sector. McDonald’s plans to open the two first outlets in HCMC through a franchise and the brand looks set to expand to 100 stores nationwide in the future. Burger King, which will open its... 

US stocks plunged Thursday on worries of higher oil prices and slowing economic growth, with the Dow, Nasdaq and S&P 500 indexes all losing more than 1.8 per cent. A wider-than-expected US trade deficit and a rare trade shortfall in China for February, together with new sovereign downgrades in Europe and turmoil in Saudi Arabia raised investor fears of higher oil prices and slower growth. The Dow... 

Despite dire predictions, few major retailers have entered the domestic market in the two years since the country opened its retail market to foreign competition under the terms of its commitments to the World Trade Organisation, said Vietnam Retailers Association chairman Phan The Rue. International giants like Wal-Mart, McDonald’s and Starbucks were still only considering whether to enter...