Auntie Anne's, the American coffee and pretzel franchise, will be permanently shuttering all of its Vietnam-based establishments after four years.
The announcement of Auntie Anne's store closures came in a recent statement, with the effective date June 1, 2023. Loyal customers were not left in the dark, as the brand made sure to inform them of the impending closures and even provided recommendations for alternative products from a new brand.
This move follows a previous announcement in May when Auntie Anne's temporarily closed one of its branches in Chua Lang, Hanoi, leaving only the Quan Su branch operational. Before these closures, Auntie Anne's had successfully established a strong foothold in major cities such as Ho Chi Minh City, Hanoi, and Danang, with multiple locations in commercial hubs and central areas.
Founded by Anne F. Beiler and her husband in 1988, Auntie Anne's has garnered a reputation as a beloved coffee and pretzel brand.
Over the course of more than three decades, Auntie Anne's has expanded its reach through franchising, now boasting a presence in 26 countries worldwide.
In July 2019, Auntie Anne's entered the Vietnamese market, delighting customers with affordable pretzel portions.
According to a recent report by iPOS.vn - a firm focusing on tech solutions for restaurant and café management, the food and beverage (F&B) market in Vietnam is projected to experience a remarkable growth rate of more than 18 per cent this year, reaching an estimated value of approximately $30.7 billion.
The report emphasised that the F&B sector is expected to sustain this upward trajectory, positioning itself for continued progress in the coming years.
Projections indicate that by 2026, the market is anticipated to surpass a substantial milestone, soaring to an estimated value of approximately $40 billion. Such growth prospects underline the robust and promising nature of Vietnam's F&B industry.
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Consumer belt-tightening is not having much impact on the revenues of food and beverage businesses in Vietnam, with many maintaining stable growth rates.