The 145-store tea chain will operate as HappiTea in international markets and is also seeking launches in Indonesia, Malaysia and China.
Vietnamese tea chain Phuc Tea has opened its first international store at Manila’s SM City shopping centre in the Philippines, which will trade under the brand HappiTea.
Founded in 2017, Phuc Tea has grown from a single tea cart to operate 145 outlets across Vietnam.
As part of its master franchise agreement with SM Group, Phuc Tea is seeking to open 20 stores across the Philippines over the next 12 months. The chain has also mooted Indonesia, Malaysia and China as markets of interest.
Alongside its extensive mid-priced menu of milk, fruit and bubble teas, which it sells from VND 65,000 ($2.55), Phuc Tea also serves americanos from VND 33,000 ($1.33) and iced coffee from VND 42,000 ($1.65) – making it slightly cheaper than Vietnamese market leaders Milano Coffee and Highlands Coffee.
Phuc Tea’s franchise partnership in the Philippines was facilitated by Go Global Holdings – a Ho Chi Minh City-based private equity fund which operates a franchise accelerator programme to support Vietnamese businesses seeking to scale abroad.
Go Global Holdings is also working with restaurant chain Pho’s, wellness brand Care with Love and laundry business Heramo.
Manila-based conglomerate SM Group has interests in the retail, banking and property industries. Its retail portfolio includes the department store chain The SM Store, SM Markets, comprised of SM Supermarket, SM Hypermarket and Savemore, and over 1,500 licensed and own-brand ‘Specialty Stores’, including Uniqlo, Forever 21 and Dyson.
Source: World Coffee Portal
