Gloria Jean’s Coffee Vietnam closes last store
The final outlet of the Australian-headquartered global chain was in the Phu My Hung residential area of District 7, a popular suburb with Asian expats and said to be the best performing store, according to its owner.
Gloria Jean’s arrived in Vietnam in 2006 through a franchise agreement and was once a popular stop among Saigon youth with locations mostly in the CBD and big shopping malls.
However, the slowdown started a few years ago when its prime corner location on Dong Khoi Street was closed, partly because of high rent. Other locations disappeared gradually.
By the end of 2016, there were two stores remaining: on Cong Truong Quoc Te, District 1 (now converted to Highlands Coffee) and District 7.
Older entrants – such as Coffee Bean & Tea Leaf and Gloria Jeans – seem to struggle in the battle with relative newcomer Starbucks, and a legion of rising local brands such as The Coffee House, Trung Nguyen and Phuc Long. The Coffee House, backed by Seedcom, has opened 50 stores and promises more to come.
Starbucks Vietnam is operated by Hong Kong-based Maxim Group.
This story first appeared on sister site, Inside Retail Asia.
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