Vinamilk to set up coffee chain
The company’s board recently sought shareholders’ permission to add nine new businesses to the company’s portfolio, including beverage and food sales. It plans to open more Hi-Cafe outlets starting this year.
Hi-Cafe will come up against local brands Highlands Coffee, The Coffee House, Phuc Long, and Trung Nguyen, and foreign brand Starbucks, which together have hundreds of stores across the country.
Vinamilk, which has more than half of Vietnam’s dairy market, reported a 5.7 percent growth in revenues last year to VND59.6 trillion ($245 million).
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