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Tag: Ten Ren

  • Tea chain Ten Ren Vietnam to close down

    Tea chain Ten Ren Vietnam to close down

    Ten Ren Vietnam will close all of its 23 stores on August 15, local franchise holder Vietnam Coffee Trading Service has announced.

    The company, whose main business is the fast-growing The Coffee House chain, said the current business model does not conform to the needs of the customer. It will close the chain and plan an “appropriate strategy” for the sector.

    The company wants to focus more on its Coffee House brand.

    All employees and partners of the Ten Ren chain will be offered the chance to transfer to The Coffee House.

    Ten Ren entered Vietnam in November 2017 initially planning 40 stores by the end of last year, but has fallen well short of that target. Its primary lines are milk tea and packaged teas.

    Given the brand is operated under a franchise it is likely the Taiwanese parent will seek a new operator for the market

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  • Ten Ren milk tea comes to Vietnam via franchise

    Ten Ren milk tea comes to Vietnam via franchise

    Taiwanese milk tea brand Ten Ren to open first Vietnam store next month via a franchise agreement with The Coffee House.

    Nguyen Hai Ninh, co-founder and CEO of coffee chain, says Ten Ren will open 40 stores by the end of 2018.

    “At first, we will sell traditional packed tea, bottled drinks and anchored product – milk tea. Each year we will add more items according to customer demand,” Nguyen says.

    Nguyen believes Vietnam’s milk tea market still offers huge potential, citing Euromonitor data  showing the market was worth US$282 million in 2016 with a 20 per cent year-on-year growth rate.

    The latest entrants to Vietnam’s milk tea market include Yutang, and Vietnamese brand Tocotoco.

    Backed by Seedcom holding group, The Coffee House was founded in 2014, has 64 stores all over Vietnam,with plans to increase to 200 by 2020.

    Ten Ren Tea was founded in 1953, specialises in tea and ginseng products.