Vietnam Investment Group (VI Group) has signed a master franchise agreement with Minor International’s subsidiary Minor Food to bring The Coffee Club to Vietnam.
Under the joint venture, VI and Minor plan to open 100 The Coffee Club outlets over the next five years.
“With the flourishing coffee market and favourable macro trend, we are very optimistic about the opportunity to strengthen our presence in the country and grow The Coffee Club brand nationwide,” said Paul Kenny, CEO at Minor Food.
According to Chaiyapat Paitoon, deputy chief financial officer and strategic planning for Minor International, restaurant businesses show strong potential in Vietnam because people “want a wider variety of cuisines, paving the way for foreign players to come in and offer different choices in addition to traditional, local and street food”.
“The Coffee Club offers a distinctive restaurant experience with great selections of food and beverages menus, excellent coffee and a welcoming relaxed atmosphere enriching the contemporary lifestyles of the Vietnamese consumers,” said David Do, VI Group MD.
The joint venture plans to open 20 The Coffee Club restaurants next year.
Minor is no stranger to Vietnam’s F&B market. It first established its restaurant footprint there in 2009 launching three casual-dining restaurant brands, including The Pizza Company, Swensen’s and Thai Express. It now has 83 outlets nationwide across those brands, 60 of them under the Pizza Company banner.