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Starbucks to Open First Shop in Vietnam

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January 3, 2013 | Comments (2)

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Starbucks (NASDAQ: SBUX  ) is to debut on the Vietnamese market by opening its first coffee house in the Communist country, the firm announced in an official press release. The outlet, located in Ho Chi Minh City (formerly Saigon), is scheduled to open its doors in February.

The company has granted a license to Hong Kong-based restaurant and cafe management firm Maxim's Group to operate its Vietnam outlets.

The move is part of Starbucks' effort to expand its presence in Asia. Its ambition is to have 4,000 of its coffee shops in the continent by the end of this year. That number currently stands at around 3,300.

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On January 04, 2013, at 2:30 AM, HoChiMinh69 wrote:

    How does AGENT ORANGE affect the health aspects of the coffee? WE put down millions of lbs which will not disapate for 100000 years.

  • Report this Comment On January 04, 2013, at 9:38 AM, PeterC89 wrote:

    Starbuck doesn't buy coffee beans from Vietnam do they? The Vietnamese population seems to be thriving pretty well this past couple decades. Their real estate is just as expensive as in the U.S. without the recession.

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