Tea chain Ten Ren Vietnam to close down
Ten Ren Vietnam will close all of its 23 stores on August 15, local franchise holder Vietnam Coffee Trading Service has announced.
The company, whose main business is the fast-growing The Coffee House chain, said the current business model does not conform to the needs of the customer. It will close the chain and plan an “appropriate strategy” for the sector.
The company wants to focus more on its Coffee House brand.
All employees and partners of the Ten Ren chain will be offered the chance to transfer to The Coffee House.
Ten Ren entered Vietnam in November 2017 initially planning 40 stores by the end of last year, but has fallen well short of that target. Its primary lines are milk tea and packaged teas.
Given the brand is operated under a franchise it is likely the Taiwanese parent will seek a new operator for the market.