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Highlands Coffee, Phuc Long, The Coffee House, and others are reverting back to traditional stores Phuc Long, the top coffee chain in terms of scale in the Vietnamese market, is likely to see a landmark change later this year as Masan Group, which owns over half of its shares and has full control over its activities, decides on its future direction. “Management is conducting a comprehensive review in Q1 of 2023 to determine a winning model before further scaling up,” said an annual business report published by Masan in early February. Phuc Long owns 906 stores as of mid-February, surpassing other well-known brands such as Highlands, Trung Nguyen, Starbucks, and The Coffee House, and it boasts the fastest growth rate in the entire market. Before officially joining Masan’s ecosystem in May 2021, the brand only had 80 stores, but that number has skyrocketed since thanks to the integration of kiosks inside the Winmart supermarket chain and Winmart+ stores. The strategy of … [Read more...] about Coffee chains ditching kiosk model

The life insurance company AIA Vietnam has recently launched an industry-first life insurance product integrated with a science-backed health and wellness programme – Uplift your life 10+ with Vitality – that encourages healthier lifestyle activities with incentives and rewards. The company is a member of the Hong Kong-based AIA Group, the leading life, health and wellness provider in Asia-Pacific. Viet Nam News spoke to Stuart Spencer - Chief Marketing Officer of AIA Group - on AIA Vitality, the health and wellness programme integrated with the life insurance product, as well as how AIA Group strives towards achieving its purpose of enabling people to live Healthier, Longer and Better Lives. Stuart A. Spencer, Chief Marketing Officer of AIA Group, the leading life, health and wellness provider in Asia-Pacific. – Photo courtesy of AIA Group Can you go into more detail about AIA Group’s purpose? How does that affect how AIA Group operates? AIA Group is a purpose-driven … [Read more...] about AIA Group: Helping people live Healthier, Longer and Better Lives

State regulators closed New York-based Signature Bank on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank in a collapse that stranded billions in deposits. The Federal Deposit Insurance Corporation (FDIC) took control of Signature, which had $110.36 billion in assets and $88.59 in deposits at the end of last year, according to New York state's Department of Financial Services. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S. Treasury Department and other bank regulators said in a joint statement. Employees appeared to gather at the company's Manhattan headquarters for meetings on Sunday, ordering catering from Carmine's, an Italian restaurant, and Starbucks coffee, according to a Reuters reporter on the scene. People trickled out of the building after the news of the closure was announced. Representatives for the lender … [Read more...] about Signature Bank becomes next casualty of banking turmoil after SVB