PHUC LONG OPENS A NEW BRANCH IN THE US

By Dang Diep Thuy Anh

HCMC, 21 Aug 2021

Phuc Long Coffee and Tea opens in Garden Grove, California, USA, this July 2021 after releasing a clip revealing mock-ups of the first overseas store and being announced on the official fan page to bring the brand to the world.

Simulated visuals of the first foreign store are shown in a clip. The Phuc Long branch in the United States is constructed in the strong Vietnamese fashion, with a red brickyard, tile roof, and a mural on the wall showing a tea hill, where the key components for beverages are manufactured. From August 20 to 22, items will be available for trial sale in Garden Grove, California, USA.

In recent years, this chain's income has consistently increased by double digits, most recently hitting VND 780 billion, up 65 percent from 2018. In Ho Chi Minh City and neighboring provinces like Vietnam Hanoi, Binh Duong, Dong Nai, Da Nang, and Can Tho, Phuc Long now has roughly 82 shops. Phuc Long is second only to Highlands Coffee in terms of revenue (2,199 billion VND in 2019) and on par with international brands like Starbucks (783 billion VND) and The Coffee House (863 billion VND).

The Sherpa Co., Ltd., a Masan Group firm, purchased 20% of the shares of Phuc Long Heritage Company, which owns the Phuc Long brand, on May 24. The acquisition is about 15 million dollars, which equates to Masan valuing the firm at around 75 million dollars (more than 1,700 billion VND).

PHUC LONG HERITAGE JOINT STOCK COMPANY

Mr. Lam Boi Minh

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(+84 28) 6263 0377

marketing@phuclong.com.vn