Top Vietnamese coffee brand Trung Nguyen opens first US outlet
Vietnamese premium coffee chain Trung Nguyen Legend officially opened its first outlet in the U.S. Friday, following up on its overseas expansion strategy.
The 1,300-square-foot store is located in California’s Little Sai Gon neighbourhood, Westminster city, home to a large number of Vietnamese diaspora.
The store serves filter coffee and espresso drinks using 100% Vietnam-grown Robusta and Arabica coffee beans sourced from Dak Lak province’s Buon Ma Thuot town - the coffee capital of Vietnam.
It also serves egg coffee - a Vietnamese specialty made of egg yolk, sugar, condensed milk, and Robusta coffee.
“We want to bring Vietnamese coffee culture to the US. It’s not just a drink to us, it’s more about sitting down, enjoying each other’s company and building connections with people,” said Jennie Tang, CEO of H&L Wholesale Food Corporation – a distributor of Trung Nguyen’s packaged retail coffee in the US.
The new café is part of Trung Nguyen Legend’s efforts to spread Vietnamese coffee and coffee culture across the world. It is planning to develop 1,000 stores in the billion-strong Chinese market, and 100 in the U.S. It also intends to open coffee spaces in Japan, South Korea, Dubai, France and other countries in Asia and Europe.
Founded in 1996, Trung Nguyen Legend currently operates 110 stores in Vietnam and three outlets in China, where the coffee chain made its international debut in September 2022.
Trung Nguyen Legend also distributes packaged retail coffee to more than 60 countries, including the US, where it has had a presence in supermarkets for over 20 years.
Alongside stocking Trung Nguyen’s G7 Coffee, Legend Instant Coffee and the brand’s other packaged coffee products, the business also distributes packaged retail tea from Phuc Long and a range of sauces, seasonings, dried products, rice and snacks.
H&L Wholesale Food Corporation was established in 2001 with the goal of supplying US households with Asian food and beverages retail products.
In the first eight months of this year, Vietnamese coffee was exported to 38 markets with the highlight being an increase in export prices to a record $3,054 per ton, nearly $700 higher than the same period last year, according to the Vietnam Coffee-Cocoa Association (Vicofa).
During this period, Vietnam shipped 1.2 million tons of coffee, worth about $3 billion.
The country earned $4.06 billion from exporting 1.78 million tons of coffee in 2022, an increase of 13.8% in volume and 32% in value compared to 2021. This was also the first year in history that Vietnam’s coffee export value topped the $4 billion mark.
According to the International Coffee Organization, Vietnam ranked second behind Brazil in terms of coffee export market share from February 2021-January 2022.
- Read More
Sumitomo subsidiary acquires 49% stake in Vietnam’s top crop protection firm
Summit Agro International Ltd., a member of Japanese conglomerate Sumitomo, has acquired a 49% stake in Hop Tri Investment Corporation, a leading crop protection firm in Vietnam.
Companies - Fri, November 22, 2024 | 8:25 pm GMT+7
E-wallets get thin as banking apps prosper in Vietnam
E-wallets appear unable to compete strongly against online banking applications in Vietnam, several market observers say.
Banking - Fri, November 22, 2024 | 7:15 pm GMT+7
Use social media influencers in targeted manner for e-commerce success: Vietnam execs
Vietnamese companies should use new generation influencers in a targeted manner, prioritizing specific market segments, standardizing quality and focusing on strong product categories to achieve e-commerce success, says Nguyen Ngoc Luan, CEO of Meet More Coffee.
Companies - Fri, November 22, 2024 | 4:26 pm GMT+7
VinFast’s parent, PV Power partner to speed up charging station expansion
Vietnamese private conglomerate Vingroup, the parent firm of electric vehicle manufacturer VinFast, and state-controlled PV Power have entered an agreement to develop charging stations across the country and promote rooftop solar installations.
Companies - Fri, November 22, 2024 | 4:11 pm GMT+7
Petrovietnam, Petronas to boost renewable energy cooperation
Petrovietnam and Petronas, two state-owned oil & gas giants of Vietnam and Malaysia, will further cooperate in renewable energy, including exchange of information, knowledge, and experiences.
Energy - Fri, November 22, 2024 | 2:59 pm GMT+7
FTSE Vietnam ETF may heavily buy Vinhomes, sell Vingroup in upcoming reshuffle: broker
FTSE Vietnam ETF is forecast to strongly buy in several Vietnamese heavyweights such as Vinhomes, Hoa Phat, and Vietcombank in its upcoming portfolio reshuffle.
Finance - Fri, November 22, 2024 | 2:45 pm GMT+7
$681 mln central Vietnam urban area project eyed by Sun Group gets authorities' nod
A VND17.3 trillion ($681 million) urban area project that is drawing the interest of major realty developer Sun Group has received an in-principle approval from Khanh Hoa province's administration.
Real Estate - Fri, November 22, 2024 | 1:53 pm GMT+7
Vietnam foreign ministry dismisses allegations of tightening visa rules for foreigners
Allegations of Vietnam tightening visa policies and control over foreigners are "baseless", Foreign Ministry spokeswoman Pham Thu Hang said Thursday.
Politics - Fri, November 22, 2024 | 11:29 am GMT+7
Thailand-invested food giant CP fined $31,000 for environmental violations
Vietnam’s southern province of Dong Nai has issued a fine of VND790 million ($31,080) to Thailand-invested C.P. Vietnam Corporation for violating environmental regulations.
Companies - Fri, November 22, 2024 | 10:48 am GMT+7
Vietnamese billionaire’s daughter spends $25 mln on Masan share purchases
Nguyen Yen Linh, the daughter of chairman Nguyen Dang Quang of consumer goods giant Masan Group (HoSE: MSN), has purchased nearly 8.5 million MSN shares over the past three weeks, meeting 85% of her target.
Finance - Fri, November 22, 2024 | 10:27 am GMT+7
PYN Elite manager upbeat about Vietnam’s economy, stock market despite Trump uncertainty
The Vietnamese economy will still fare well, and the local stock market will remain appealing despite the recent pullback following Donald Trump’s election win for a second term, said Petri Deryng, portfolio manager of Finland-based the PYN Elite fund.
Finance - Fri, November 22, 2024 | 8:25 am GMT+7
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7