Mr. Racha says that as the coffee market in Vietnam is growing rapidly and has a tendency to grow continuously, OR and CRG, a company affiliated to the Central Group, foresee the arising opportunity, thus joining forces to establish a joint venture company called ORC Coffee Passion Group Joint Stock Company, or ORCG, in 2019, and launching its first Cafe Amazon in 2020. Currently, there are 14 Cafe Amazon outlets in Vietnam, consisting of 10 in Ho Chi Minh City and the rest in other cities, including Ben Tre, Tra Vinh and My Tho, with a target to reach 20 branches by 2022.
OR hopes that, with OR's expertise in the coffee business that promotes the growth potential of Cafe Amazon, combined with CRG's expertise in restaurant branding and service management, Cafe Amazon will enjoy a warm welcome from Vietnamese consumers and lead to opportunities for stable and sustainable growth. Moreover, OR will continue to strengthen and never stop developing Cafe Amazon to cater the best-in-class beverages and service to all coffee lovers in Vietnam, as reflected in OR's mission, which is to scale its portfolio for the global market.
Additionally, the partnership is also in pursuit of OR's vision, Empowering All toward Inclusive Growth, by focusing on a new growth model, which employs an Outside-In strategy, collaborating with external partners to support each other and jointly accomplish sustainable growth.
Source: PTT Oil and Retail Business