Starbucks Vietnam celebrated its 10-year journey in the country with the grand opening of the 100th store in Lotte Mall West Lake in Hanoi on Saturday.
Located in a new entertainment and shopping complex in Hanoi, the 100th store is designed to pay homage to the beautiful natural environment through a selected blue accent colour and a warm material palette.
In February 2013, Starbucks marked its footprint in Vietnam by opening its first store in Ho Chi Minh City. Since then, it has steadily expanded its presence and now operates in nine cities and provinces across the country.
According to an August report by iPOS.vn on Vietnam’s F&B market in the first six months of 2023, the market displayed strong volatility, with most businesses either witnessing a decrease in revenue or maintaining similar figures compared to the same period the previous year. However, many businesses remain optimistic about a market turnaround.
A survey of 200 restaurant and cafe owners indicated that 40.1% of F&B businesses anticipate positive signals in business activities in the second half of 2023. This shows, despite certain challenges, Vietnam is still regarded as a “fertile land” for international brands in the F&B sector.