Gloria Jean’s Coffee Vietnam has closed its last store – after 10 years of operation.
The final outlet of the Australian-headquartered global chain was in the Phu My Hung residential area of District 7, a popular suburb with Asian expats and said to be the best performing store, according to its owner.
Gloria Jean’s arrived in Vietnam in 2006 through a franchise agreement and was once a popular stop among Saigon youth with locations mostly in the CBD and big shopping malls.
However, Inside Retail Asia reports that the slowdown started a few years ago when its prime corner location was closed, partly because of high rent. Other locations disappeared gradually. By the end of 2016, there were just two stores remaining.
Emerging local brands and US chain Starbucks, a relative newcomer to the Vietnamese market, have proved challenging competition to more established brands like Gloria Jean's.