In spite of receiving investments from foreign investors with powerful financial capability and strong brands, numerous coffee chains in Vietnam still either closed or scale down operations.
While gaining success in other markets, many foreign coffee brands have had to leave the Vietnamese market.
Some foreign cafe chains, with powerful financial capability and strong brands, have left Vietnam, but many Vietnamese chains have been prospering.
According to Insider Retail, New York Dessert Coffee (NYDC) has closed all of its restaurants in Vietnam after many months of trying to continue to operate.
Singapore-based café and restaurant chain NYDC has closed its last outlet and shut down its seven-year-old business in Vietnam after what critics said a losing battle against local chains.