03 Jan '13, 8am

Starbucks to open first store in Vietnam

Starbucks to open first store in Vietnam

HANOI: Starbucks said on Thursday it would open its first store in Vietnam next month, seeking a foothold in the coffee-loving country as part of efforts to expand in Asia. The country's first Starbucks cafe will be in southern Ho Chi Minh City, the US beverage giant said in a joint statement with its local partner, Hong Kong's Maxim Group. "Vietnam is one of the most dynamic and exciting markets in the world," said Starbucks China and Asia Pacific president John Culver, adding that this would increase the company's presence across Asia to 12 countries. Starbucks has been targeting growth outside of the stagnant US market, opening thousands of stores in China and across the Asia-Pacific over the past few years. In October it opened its first stores in India. Culver said the group was "deeply respectful of Vietnam's long and distinctive local coffee culture" and hoped its e...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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