Selling via online platforms helps The Coffee House retain its customers during the pandemic. Vietnamese people spent more than $2.28 billion on tea and coffee in 2020. — Photo courtesy of The Coffee House Despite the impacts of the COVID-19 pandemic, competition between coffee chains in Viet Nam has become increasingly fierce with more giants trying to grab a slice of the lucrative market. Masan, owned by billionaire Nguyen Dang Quang, Novaland of Bui Thanh Nhon and Tran Kim Thanh's Kido have all heated up the billion-dollar market by entering recently. In May, The Sherpa, a company owned by Masan, purchased 20 per cent of Phuc Long Joint Stock Company, which owns the Phuc Long brand, one of the country's most famous tea and coffee chains. As the firm spent US$15 million on the deal, the Phuc Long chain was valued at $75 million, a number that surprised many people, according to some insiders. Set up in Bao Loc City, Lam Dong Province in 1968, Phuc Long expanded into the … [Read more...] about Coffee chains still grow amid pandemic
