Major coffee producing countries like Vietnam and Indonesia are forecast to have sharp drops in output this year in part raising coffee bean prices. By: WATARU HAMANO TOKYO — Global coffee bean futures are near record or recent highs, fueled by increasing demand from a growing middle class in China and the rest of Asia…
By Anay Mridul Israeli food tech startup Forsea Foods has unveiled the first prototype of its cultivated eel, linking up with Tokyo vegan restaurant SAIDO to create dishes with the cell-cultured fish. It aims to launch the seafood product by 2025. Forsea Foods, the only known company working on cell-based eel, has created the first…
August 1, 2023 A Phuc Long kiosk in Ho Chi Minh City. Photo by VnExpress/Tat Dat Beverage chain Phuc Long saw revenue in the second quarter falling 14% year-on-year to VND370 billion ($15.63 million), the first decline since it was acquired by retailer Masan Group. Phuc Long’s pre-tax profit declined by a third to VND63…
Yum Brands-owned KFC Thailand announces it is working with Meat Zero to create new plant-based fried chicken menus to be initially served at two KFC Green Stores in Thailand. Thai pork and poultry giant Charoen Pokphand Foods PLC (CPF), Thailand’s largest agro-industrial food business, unveiled MEAT ZERO this May with goals of becoming the top…
TOKYO — Japanese trading house Itochu has begun full-scale sales in Japan of plant-based frozen precooked “chicken” products from Thailand’s biggest conglomerate, Charoen Pokphand Group. In cooperation with Itochu group company Prima Meat Packers and other partners, Itochu is selling the plant-based chicken, including nuggets and Japanese-style cutlets, at supermarkets and online shopping sites, through which…
Poised to reinvent the Vietnam culinary and beverage sector with its trailblazing, cost-effective approach to product development, Bloom. represents a dynamic leap forward for the industry. The event was attended by high-profile representatives, including Sweden’s Ambassador to Vietnam Ann Måwe, Pham Hong Quat, director-general of the National Agency for Technology Entrepreneurship and Commercialisation, along with…
Although luxury brands are still coming to Vietnam, the expensive facades of the central streets of Ho Chi Minh City have been empty at an unprecedented level over the past three years, and the omnichannel sales method is now being favoured. Le Loi, the most central street of District 1 in Ho Chi Minh City,…
Jollibee Foods Corporation’s subsidiary SuperFoods, which owns Highlands Coffee, has transferred all of its assets of Vietnamese noodles chain Pho24, in an exit to East-West Restaurant Concepts. The franchise agreement for the operation of Pho24 stores in the Philippines was also terminated. The value of the deal has not been disclosed. (Source: Pho24) Founded in…
Parkson Vietnam, an indirect wholly-owned subsidiary of Parkson Retail Asia, has filed for voluntary bankruptcy with the City People’s Court in Ho Chi Minh City after 18 years in the market. The company cited a long history of operational losses in the market and lack of support from landlords during the Covid-19 outbreak as the…
The average rent in Saigon retail shopping malls last quarter was around US$50 per square meter per month, a year-on-year rise of 9.1%, according to Cushman & Wakefield. Last year dozens of local and foreign brands in fashion, gastronomy, cosmetics, sports, and others came to the city and rented space in malls, the property consultancy…
NEW YORK, N.Y.— Nguyen Coffee Supply has launched two additional Ready-To-Drink (RTD) cold brew products to their Vietnamese Coffee Line. Joining their Classic Black Cold Brew, the two new cold brew cans include Condensed Milk and Coconut and will be available on the Nguyen Coffee Supply website and at Whole Foods Markets in New York…
Starbucks continues to respond to increased consumer demand for convenience, partnering with local franchisee Coffee Concepts Limited to bring its drive-thru offering to Cambodia. The Seattle based coffee chain has opened its first drive-thru store in Cambodia in partnership with its local franchise partner Coffee Concepts Limited. The US coffee chain, which operates 30 outlets…
SINGAPORE/HANOI : Mobile World Investment Corp Vietnam said on Wednesday it has hired an adviser to explore the sale of up to 20 per cent of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion. “We have chosen an adviser…
Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, is expanding its business in Southeast Asia by acquiring Coca-Cola’s bottling business in Cambodia and Vietnam. The acquisition is Swire Coca-Cola’s first investments in the region which will give the company a leading position in one of the world’s fastest growing beverage markets….
Highlands Coffee, one of the largest coffee chains in Vietnam, earlier this month hiked its prices by 10-15 percent. It said that the increase served to maintain product quality amid market fluctuations. Hoang Viet, CEO of Laha Cafe, said that coffee chains are seeing costs of coffee surging by 25 percent and rents by 10-20…
Starbucks Vietnam will close its Hanoi outlet after eight years, following the closures of two locations in Vietnam last year. The Starbucks Lan Vien outlet in Hoan Kiem District will operate until June 30, the company said in a Facebook post. Last year, Starbucks Vietnam had closures of another outlet in Hoan Kiem District and…
New York, N.Y. — Nguyen Coffee Supply announced the closure of a $2.6 million seed round of funding. The funding will advance Nguyen Coffee Supply’s mission to bring Vietnamese coffee–and the resilient robusta bean–to the masses and support the company’s expanding distribution and product innovation. The seed round will help transform the coffee industry through…
Leading Vietnam’s coffee renaissance has been Future Coffee Farm founder Toi Nguyen, whose plantation around 180 kilometers from Ho Chi Minh City has become an inspiration to new coffee farmers with grand ambitions of affecting coffee perceptions around the world. (Photo by Mervin Lee) PAVAN SHAMDASANI, Contributing writerFebruary 19, 2022 12:00 JST HO CHI MINH CITY…
Aeon, a Japanese retailer, plans to build a 30,000-square-meter logistics center in Sihanoukville, Cambodia in 2023 to provide import storage, customs clearance, and cross-border online retail support. Cambodia plans to develop a part of the special economic zone as a free trade port with the support of the Government of Japan and the Japan International…
Hong Lai Huat wholly-owned subsidiary HLH Development (HLHD) has agreed to co-develop an 11.5-hectare (ha) site in Sihanoukville, Cambodia with the site’s land owner Smart Winner, announced the group in a bourse filing on Monday (Nov 1). This marks the group’s fourth mixed-use development project in Cambodia as well as its second foray into Sihanoukville…
CBRE Cambodia senior manager Kim Kinkesa told The Post on October 27 that the Cambodia retail rental market has been in steady decline since the global outbreak of Covid-19 early last year. The launch of three new retail centres in the third quarter of this year has brought the total retail space in the capital…
HO CHI MINH CITY — It sounds like the setup for a Vietnamese riddle: Why did the car company buy the supermarket? But instead of a punchline, the answer reveals a common yet obscure aspect of foreign investment in Vietnam: local protectionism hidden in the economic needs test. The blandly named economic needs test, or…
Big C Supercenter Plc plans to increase investment to expand its retail store business in Cambodia over the next five years. “With our five-year plan, we aim to become the No.1 retailer in Cambodia in terms of value, size and perception among Cambodian customers,” said Gary Hardy, chief operating officer. Mr Hardy said the company…
IRVING, Texas, Aug. 30, 2021 The first 7-Eleven store in Cambodia is set to open Monday, Aug. 30, in Phnom Penh, the bustling capital city of the Southeast Asian country. Residents and tourists alike now can enjoy the world’s largest retailer’s unique style of convenience, signature food and drinks, as well as products and…
The arrival of yet another international pizza brand in Phnom Penh suggests a looming war for market share is cooking. Pizza, whether corporate, Khmer-influenced or classically Italian, is a favourite food among both Cambodia’s young and the expat community and there is increasingly no shortage of businesses after their tastebuds. Anthony Galliano, American Chamber of…
The prolonged spread of Covid-19 continues to dismantle the Cambodian restaurant industry. New research from the Cambodia Restaurant Association (CRA) shows that sales have been decimated by the pandemic, dropping 50 per cent last year over 2019 and now 60 per cent lower than 2020 levels. This represents a cumulative 80 per cent drop of…
Local food chain corporation United Food Group Co Ltd (UFG) has brought the US-based fast-food chain Pizza Hut to Cambodia and is set to open its first shop this month, reflecting the ongoing expansion of US businesses into the Kingdom. A subsidiary of New York-listed Yum! Brands Inc, Pizza Hut has the advantage of best-practice…
The Covid-19 pandemic has rocked the retail landscape in Phnom Penh, with anxiety around infection risk keeping the masses away from shopping malls and driving retail consumption down by nearly five per cent in the first half of this year, compared to July-December 2020, according to a report by real estate company CBRE Cambodia. Last…
HCM CITY – The Vietnam online food delivery trend has seen robust growth since the COVID-19 outbreak began, and this is likely to continue through this year given Vietnamese consumers’ cautiousness, Peter Christou, commercial director of Kantar Worldpanel Vietnam, has said. There was rapid adoption of online food delivery by Vietnam consumers, food and beverage businesses…
SPC Group is launching the Paris Baguette bakery franchise in Cambodia, opening the first branch in the country‘s capital city, the company said Wednesday. According to SPC Group, the Korean firm behind bakery brand Paris Baguette, it forged ties with Cambodia’s HSC Group to open the first Paris Baguette store in Phnom Penh. Cambodia is…
A consortium led by Chinese e-commerce giant Alibaba will invest $400 million in the subsidiary of conglomerate Masan Group that operates retail chain VinMart. The consortium, including Baring Private Equity Asia, one of the largest private equity firms in Asia, has signed an agreement to acquire a 5.5 percent stake in The CrownX, a deal…
With a population of one hundred million people, of which 60% are youth who are willing to try out new products, the Vietnamese market looks highly attractive to foreign retailers. There are currently about 44 million Vietnamese in the middle class, and according to some forecasts this number will increase to 95 million by 2030….
Despite the current COVID-induced economic slump, Cambodia still represents an attractive market for several sectors, among them, United States franchises, which could start popping up in the Kingdom as early as 2022. Robert Jones, a consultant for Edwards Global Services, who represented three US brands poised to bring their products to the Kingdom at a…
Prolonged stress from the Covid-19 epidemic crushed Phnom Penh’s retail market over the first quarter of this year in terms of rental prices, occupancy rates and consumer spending, a new report obtained by The Post on April 7 revealed. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group…
Boncafé (Cambodia) Ltd and Tianle Food Global Co Ltd on Thursday signed a memorandum of understanding (MoU) to offer high quality beverages such as coffee and Italian Sodas at Papa John’s first outlet in Sangkat Chroy Chongva. Under the MoU, Boncafé Cambodia, the supplier of coffee equipment and beverage ingredients, will support Papa John’s expansion…
The capital city is facing a surge in vacant retail space, a figure that has been expanding over time but with the onslaught of food delivery apps and e-commerce, and the ongoing risk of Covid-19, how will it all pan out? A while ago, businesses started to disappear from WB Arena, a sprawling $10 million…
