Vietnam Considered As The Next Move for Starbucks
The American giant is looking into possibility to expand its business in Asia, including Vietnam.
For most of those who are reading this news, Starbucks is probably a way too familiar name, if its product is not sitting next to your laptop or iphone. The American giant has made appearance globally, thriving beyond the US border, from Vancouver campuses to Hongkong International Airport. It is claimed that 20% of Starbucks revenue is drawn from international presence. The coffee chain is looking into changing that number.
In its latest press release, Howard Schultz - Starbucks CEO - announced the restructuring plan of the chain, including its plan to enter India market in 2012 and Vietnam in 2013. The population of these two Asian countries is an enticing feature, and both economies are doing great jobs in the context of global economic crisis.
In Vietnam, Gloria Jeans and Illy's are two of the very limited number of multinational fast food chains and the arrival of Starbucks is already much expected by Vietnam's youth, who is adapting well to a new modern lifestyle with fast and convenient the top priority. Burger King is also on its way to open its first restaurant in Tan Son Nhat airport this summer.
The fact that more franchises and chains are keen on joining Vietnam market is probably a good sign, in terms of generating employments and creating extra options for frappuccino lovers.
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