Tag: Phuc Long

  • Apple Pay launched in Vietnam

    Apple Pay launched in Vietnam

    Apple Pay has arrived in Vietnam, enabling users to make contactless money transactions through an iPhone or Apple Watch.

    Vietnam is the third country in Southeast Asia to allow Apple Pay after Malaysia and Singapore.

    Several lenders such as MB Bank and Techcombank now support Apple Pay services at some establishments such as Starbucks, Phuc Long, Mc Donald’s, Highlands Coffee, CGV, and Winmart.

    Users can add their credit or debit card information to Apple Pay using the Apple Wallet app.

    At least an iPhone 6 or Apple Watch Series 4 is required to use it.

    Apple Pay was first launched in the U.S. in 2014.

    Apple assures that users’ credit data is only stored on their devices and not transmitted to Apple’s servers.

    In Vietnam, Samsung Pay was launched in 2017 and Google Wallet in November 2022.

  • Masan acquires majority stake in Phuc Long tea chain

    Masan acquires majority stake in Phuc Long tea chain

    Conglomerate Masan announced Wednesday that it has spent an additional $110 million to increase its ownership in the Phuc Long beverage chain from 20 percent to 51 percent.

    “Since Masan’s initial investment, Phuc Long has demonstrated strong synergies with MSN’s Point-of-Life strategy, which can now be accelerated with Phuc Long as a consolidated subsidiary of Masan,” it said in a press release.

    Masan first bought a 20 percent stake in Phuc Long in May last year for $15 million. The latest purchase puts the valuation of the tea and coffee chain at $355 million.

    Incorporating Phuc Long’s tea kiosks into Masan’s WinMart+ stores nationwide has been part of the conglomerate’s plan since last year as it sought to advance its “point of life” strategy by developing a mini-mall concept that serves a wide array of essential products and services such as groceries, beverage, pharmaceuticals and financial products.

    Masan plans to launch 2,000 such mini-malls this year, and Phuc Long is set to contribute up to VND3 trillion ($132 million) to the conglomerate revenues, which hit VND88.6 trillion last year.

    Phuc Long was established in 1968 in the Central Highlands province of Lam Dong. The company launched its tea and coffee chain in 2012 with is first store in HCMC.

  • Masan acquires 20 pct stake in Phuc Long tea chain

    Masan acquires 20 pct stake in Phuc Long tea chain

    A subsidiary of the Masan Group conglomerate has signed an agreement to acquire a 20 percent stake in tea shop chain Phuc Long Heritage Jsc.

    Masan’s The Sherpa Company Ltd will pour $15 million into the company, established last week to own the Phuc Long brand, which is among the most popular beverage brands in Vietnam with 82 stores nationwide.

    The deal puts Phuc Long Heritage’s valuation at $75 million.

    It will help establish Phuc Long kiosks in over 2,200 VinMart+ convenience stores to provide tea and coffee to consumers.

    In the last three months, four pilot kiosks have been opened in Ho Chi Minh City and another 1,000 will be set up in the next 18-24 months.

    “I believe that in combining the Phuc Long products and VinMart+ network of more than 2,200 stores today and 10,000 stores in the next five years, we will provide 100 million Vietnamese consumers with the opportunity to enjoy the freshest, most delicious tea and coffee,” said Truong Cong Thang, CEO of VinCommerce.

    Each kiosk will share 20 percent of its revenue with VinMart+, adding 4 percentage points to the profit margin of the retail chain.

    Vietnam’s tea and coffee market is valued at $2.3 billion and is expected to grow more than 10 percent per year, according to data from Masan, which also estimates that popular brands like Highlands Coffee, The Coffee House and Starbucks account for 25 percent of the market.

  • Phuc Long makes it debut in Danang

    Phuc Long makes it debut in Danang

    Vietnamese coffee and tea chain Phuc Long has opened its first Danang outlet.

    Located on the second floor of Lotte Mart, the new Phuc Long Danang store drew long queues on opening day, as it offered three days of launch promotional activity. From today until Sunday, customers who come early and check-in on Facebook will get free vouchers and coffee mugs.

    Phuc Long has partnered with Grab to offer discount for rides to its store – for both GrabBike and GrabCar.

    The second Phuc Long Danang outlet will open soon on Nguyen Van Linh.

  • Phuc Long Danang to open soon

    Phuc Long Danang to open soon

    Vietnamese coffee and tea chain Phuc Long is expanding into Danang next month.

    The brand will open two stores inside Lotte Mart and on Nguyen Van Linh Street in the city’s Hai Chau district.

    The chain has also enriched its food menu, offering traditional Vietnamese banh mi sandwiches alongside croissants, cookies, waffles and tiramisu.

    Targeting younger customers, Phuc Long is considered a competitor with international chain Starbucks and local rival The Coffee House.

    Established in 1968 in the highlands of Lam Dong, Phuc Long started by selling packaged Vietnamese traditional coffee and tea through retail stores. Phuc Long expanded to Ho Chi Minh City during 1980s with both retail stores and a coffee chain. The brand now has 25 stores across the city.

    Starbucks opened its first store in Danang last month.

  • New shopping center opened in Ho Chi Minh City

    New shopping center opened in Ho Chi Minh City

    Vietnam’s newest shopping centre, Van Hanh Mall, has opened in Ho Chi Minh City, on Su Van Hanh Street in District 10.

    Built on a 90,000sqm site, the shopping complex has 55,000sqm of retail space, which is 90 per cent occupied already, by more than 200 international and local brands.

    Tenants include Bata, Charles & Keith, Levi’s, Mujosh and Nike and a raft of dining options, including Buffalo Wild Wings, Crystal Jade, Sushi Kei, Starbucks and Phuc Long coffee.

    For entertainment, there is a CGV multiplex cinema, a Superbowl amusement center and a giant European-themed bookstore.

    A Co.opXtra hypermarket, operated by Saigon Co.op and Singapore’s NTUC FairPrice, also opened, marking the brand’s third outlet in the city.

    There are nine parking floors from basement to fifth floor, enough space for 350 cars and 3000 bikes.

    Built at the cost of VND1 trillion (US$43.9 million), Van Hanh mall rentals range from US$30-60 per sqm.

  • Takashimaya Vietnam opens doors

    Takashimaya Vietnam opens doors

    Three years after the Japanese luxury department store chain announced plans to enter Saigon, Takashimaya Vietnam opened its doors at the weekend.

    As the anchor tenant of  downtown Ho Chi Minh City’s Saigon Center, Takashimaya takes up a whole five floors making it by far the nation’s largest department store – and likely its most expensive.

    The first impression that the department store makes is its spacious interior. Concessions to brands have been arranged to leave unusually wide aisles – ensuring the store was comfortable even on its crowded grand opening day.

    Takashimaya Vietnam - interior

     The central atrium of the expanded Saigon Center featuring Takashimaya’s first Vietnam store.

    The first floor of Takashimaya houses the food maison, most of which is filled by Japanese F&B brands such as Minamoto Kitchoan, Gyumaru, Azabu Sabo, Yamazaki and Suizan. Some tea brands make their way into that space, including Vietnam’s own Phuc Long, Singapore’s TWG tea, and B Tea.

    Targeting the high class consumers in Saigon and Vietnam, Takashimaya has chosen carefully the brands to appear in their stores, including luxury brands coming to Vietnam the first time, complemented by the high level of customer service Takashimaya offers elsewhere in the world.

    Takashimaya Vietnam

    The second floor is exclusively for ladies with international fashion names such as Banana Republic, Bebe, Bonia, Braun Buffel; footwear from Clarks, Geox, Cole Haan; bags from Carlo Rino, Cromia; and Furla with its first flagship in Vietnam after years being distributed by Ha Vang company.

    The rest space is occupied by cosmetics brands, including Korean labels Skinfood, which marked the store’s opening with a special event ‘Makeup Style for Your Summer’.

    Takashimaya Vietnam - Skinfood

    “We offer free makeup and manicure for our customers for two days. Besides, when they buy our products, they will receive a gift set,” said Kieu Oanh, senior PR & marketing executive of Skinfood Vietnam.

    For women, the excitement continues on the next level of Takashimaya: a heaven of luxury cosmetics, jewelleries and fragrances. Christian Dior is prominently located at the front, with rival Lancome opposite. Lancome also opened its own ‘Lancome Cafe’ – a style boutique, where women can take free makeup lessons and receive gifts for the best ‘artwork’.

    Takashimaya Vietnam - Lancome

    Other brands include Bobbi Brown, Shiseido, Estee Lauder, Swarovski, and Mac.

    Takashimaya Vietnam - Yves Rocher

    The next floor features international fashion and cosmetics brands including Diane von Furstenberg, Hugo, Versace and Paul & Shark, along with restaurants and cafes. This level has a rest space with some chairs for visitors arranged around a huge grey pillar.

    Takashimaya Vietnam - Diane von Furstenberg

    Local luxury multibrand retailer Runway comes back after closing its store in Vincom Center in March. As usual, it has a large space in the center, gathering all women’s favourite brands with modern and elegant designs.

    Takashimaya Vietnam - Runway

     The new Runway store replaces the local multi-label luxury brand’s previous space at Vincom. 

    Another highlight is the ready-to-launch space of women handbags Kate Spade New York. That outlet is expected to open soon.

    Takashimaya Vietnam - Kate Spade

    Coming soon: Kate Spade.

    The last level of Takashimaya is filled with men’s fashion and casual wear and children’s clothing and toys. Tommy Hilfiger has the largest outlet here, opposite the first authentic Fred Perry store.

     

    With more than 180 years of experience and US$290 million investment, it is expected that Takashimaya will not only take Vietnamese shopping to a higher level but also mark a turning point for economic development and quality retail in Vietnam.