Australian coffee chain Ten Thousand has opened a store in the Vietnamese capital Hanoi, VF Franchise Consulting is reporting. This is the group’s seventh store, with just one in Australia, three in the USA, and two in Taiwan.
For a relatively small and new company, that is not well established in its home market, this is could be somewhat of a gamble. Vietnam’s coffee scene is unique and coffee consumers are price-sensitive (Ten Thousand’s prices are in line with Starbucks). Notably, a number of much bigger coffee chains have come and gone in recent years including NYDC and Gloria Jeans. With this in mind, Ten Thousand will have its work cut out for it, but that’s not to say market penetration cannot be achieved–Starbucks just recently opened its 100th store in the country–incidentally, in the same shopping complex in Hanoi as Ten Thousand.
See also: How to Open a Cafe in Vietnam: Ultimate Guide 2023