Starbucks Corp will set up its first outlet in Vietnam early next month as the US chain continues to expand in fast-growing Asian markets. Starbucks will partner with Hong Kong's Maxim's Group to open its first store in Ho Chi Minh City and reiterated that Asia continues to be a significant growth driver for the company.
"Vietnam is one of the most dynamic and exciting markets in the world and we are proud to add Vietnam as the 12th market across the China and Asia-Pacific region," said John Culver, President, Starbucks - China and Asia Pacific.
Starbucks already buys some of the highest-quality arabica coffee from Vietnam and said it is committed to sourcing more from the region in the long-run, according to a Reuters report. Starbucks operates more than 3,300 stores across 11 countries in the China and Asia-Pacific region.