Starbucks Corp said yesterday it would open its first store next month in Vietnam, seeking a foothold in the coffee-loving country as part of efforts to expand in Asia.
The communist 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 and we are proud to add Vietnam as the 12th market across the China and Asia-Pacific region,” Starbucks China and Asia Pacific president John Culver said.
Starbucks has been targeting growth outside of the stagnant US market, opening thousands of stores in China and across the Asia-Pacific region over the past few years.
In October, it opened its first stores in India, in partnership with domestic giant Tata Global Beverages.
Unlike tea-drinking India, Vietnam — the world’s second-largest coffee producer — already has a strong local coffee culture with dozens of popular local chains and small coffee shops on nearly every street corner.
“We know coffee is a national pride for many Vietnamese and as such, we look forward to contributing and growing Vietnam’s already vibrant coffee industry,” Culver said in the statement.
Starbucks already purchases “notable” amounts of high-quality arabica coffee from Vietnam and is committed to buying more over the long term, according to the statement.
Culver said last month that Starbucks will have almost 4,000 stores in the Asia-Pacific region by the end of this year, including 1,000 in China.
Separately, Starbucks started rolling out a US$1 reusable plastic cup at its cafes from yesterday.
The Seattle-based coffee chain already gives customers a dime discount each time they bring in reusable cups for refills. Now it is hoping the new cups — which bear its logo and resemble its white paper cups — will increase the habit.
The cups were tested in 600 stores in the Pacific Northwest over the past few months and will be rolled out nationwide and in Canada.
In 2008, teh company had said it wanted to serve 25 percent of all drinks in reusable cups by 2015. That goal has since been reduced to 5 percent.
Medigen Vaccine Biologics Corp (高端疫苗) yesterday reported higher neutralizing antibody levels in people who were given its COVID-19 vaccine as a booster after two AstraZeneca doses, the company said. In a trial of 200 participants who received Medigen’s COVID-19 vaccine, neutralizing antibodies against the Omicron variant of SARS-CoV-2 grew by 5.7 times one month after being administered, Taoyuan General Hospital said. Medigen said that the results have been submitted to medRxiv, an online platform for researchers to share complete but unpublished papers. Another trial conducted by National Taiwan University Hospital showed that among 45 participants who received three doses of the Medigen vaccine,
BEATING EXPECTATIONS: With electric vehicles and the metaverse on the horizon, the company predicts a solid first quarter as customers stockpile inventories Key iPhone assembler Hon Hai Precision Industry Co (鴻海精密) could achieve an “unprecedented” performance in the first quarter, chairman Young Liu (劉揚偉) said. “Our performance in the first quarter might surpass how we fared in the past few years, and it is likely that some staff at key sites might only get two days off during the Lunar New Year holiday,” Liu said in prepared remarks for the company’s annual workers’ party yesterday. Manufacturers around the world are racing to build up inventory out of fear that outbreaks of the Omicron variant of SARS-CoV-2 and other uncertainties could further disrupt their supply
The US Department of Commerce on Tuesday said that a global survey of semiconductor chip producers and users shows a shortage will persist, sparked primarily by wafer production capacity constraints. The voluntary survey of 150 companies last fall in the supply chain confirmed “there is a significant, persistent mismatch in supply and demand for chips, and respondents did not see the problem going away in the next six months.” US Secretary of Commerce Gina Raimondo told reporters that the department “in a few instances didn’t really get what we needed and we’re going to go company by company and do personal engagement
EV ‘ECOSYSTEM’: The firms have agreed to work with the Indonesian government and others in creating infrastructure for the country’s growing EV market Hon Hai Precision Industry Co (鴻海精密) yesterday made a major step toward a foothold in the world’s electric vehicle (EV) market by signing partnership agreements with the Indonesian government and local energy and battery companies, in which local EV supplier Gogoro Inc (睿能創意) would also take part. Hon Hai, the world’s largest electronics manufacturing company, signed a memorandum of understanding with the Indonesian Ministry of Investment, battery maker PT Industri Baterai Indonesia, PT Indika Energy and Gogoro to build a sustainable energy ecosystem in Indonesia, a joint statement said. The government-level deal came after Hon Hai last year unveiled its first EV