Thai tycoon withdraws from Café Amazon joint venture, stops playing in Vietnam?

(Dan Tri) - Entering Vietnam during the Covid-19 period, the Café Amazon chain even declared that it would cover Vietnam. But now, this unit has a new move, according to Insider Retail.

Thailand's Central Plaza Hotel (Centel) has just announced that it will withdraw from the Café Amazon joint venture in Vietnam. The move is considered a strategic shift to cope with the fiercely competitive coffee market here.

The above information was posted by Insider Retail - an information site specializing in the retail, e-commerce, fast-moving consumer goods and franchising sectors of Australia. According to this source, this will lead to the dissolution of ORC Coffee Passion Group Joint Stock Company (ORCG) - the unit operating the Café Amazon chain in Vietnam.

The Amazon Café chain once announced that it would cover Vietnam (Photo: IT).

ORCG is a joint venture between Central Restaurants Group (Vietnam) - a subsidiary of Centel, holding 40% of shares. PTTOR International Holdings (Singapore) - a subsidiary of PTT Oil and Retail Business - a group listed on the Thai stock exchange - holds the remaining 60%.

In a statement to the Bangkok Stock Exchange (Thailand), Centel said the reason for this decision was to "reorganize business priorities" and adapt to market challenges.

Inside Retail commented that this decision also "put an end" to Centel's role in the plan to expand the Café Amazon brand in Vietnam. That plan was launched in 2020 with the ambition to make this brand a leading coffee brand in the world .

Looking back, in 2021, when the entire market was hurting after Covid-19, Café Amazon chose Vietnam as the 10th destination in its global expansion plan. During this time, the brand quickly had 5 stores in Vietnam. The chain representative even announced that it would cover Vietnam.

Source: https://dantri.com.vn/kinh-doanh/dai-gia-thai-rut-khoi-lien-doanh-cafe-amazon-dung-cuoc-choi-o-viet-nam-20251008190044706.htm