Australian specialty coffee chain Ten Thousand debuts in Vietnam

Located in Hanoi's Lotte Mall West Lake, just 200m from a Starbucks outlet, the entry of Ten Thousand marks a significant step in the regional coffee market's dynamics.

The brand's name, inspired by the 10,000-hour rule of mastery, signifies the founder's journey from an ordinary individual with limited coffee knowledge to an expert dedicated to popularising specialty coffee. The founder invested these hours into research and brand development, culminating in the establishment of Ten Thousand.

In terms of pricing, Ten Thousand positions itself competitively within the same segment as Starbucks in Vietnam. Its signature beverages are priced at around VND100,000 (approximately $4.22) per serving.

Classic coffee options like Latte and Americano range from VND65,000 to VND90,000 ($2.74 to $3.80), while traditional Vietnamese favourites like Bac Xiu (coffee with condensed milk), Sua Da (iced milk coffee), and Ca Phe Cot Dua (coconut milk coffee) are listed between VND65,000 and VND85,000 ($2.74 to $3.59) per cup.

Speaking about the brand's strategy, Ted Park, director of Global FC, highlighted the distinct approach of Ten Thousand compared to other brands like %Arabica.

"Whereas some brands rely solely on independent outlet growth, Ten Thousand pursues a franchising model," said Park.

"In Australia and the United States, Starbucks and McDonald's might be the best choices away from city centres. However, Ten Thousand is committed to expanding the presence of high-quality specialty coffee, not just in urban hubs but also in more local settings," he continued.

Currently, the chain operates one outlet in Australia, three in the US, and two in Taiwan. Despite a modest beginning, the brand has set an ambitious target of opening 500 stores globally within the next five years.

Lotte Mall West Lake, Hanoi's newest commercial centre, also hosts a variety of other coffee brands, including Starbucks, Ca Phe Giang, and La Viet, making it a vibrant hub for coffee enthusiasts and a testament to the growing diversity in Vietnam's coffee culture.

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