Vietnam's Food, Beverage Companies Remain Upbeat Despite Downturn

HANOI, June 5 (UrduPoint / Pakistan Point News - 5th Jun, 2023 ) --:While worries about a possible recession have led to shrinking consumer buying power, the food and beverage businesses in Vietnam remain optimistic about their performance this year, Vietnam news reported on Monday.

Helped by low franchising fees, Chinese Mixue, whose snowman-logo shops sell ice cream, bubble tea, and a variety of drinks, has reached 1,000 locations in Vietnam over the past five years, far ahead of other foreign and homegrown brands that had previously dominated the market.

Economic jitters seemed to have also failed to dilute the coffee habits of Vietnamese customers as coffee chain Highland Coffee's store count has grown 63.5 percent from 2021 to around 600 shops; Trung Nguyen has almost doubled its stores to 620 from only 308 stores in early 2021.