According to Insideretail, the Bangkok Stock Exchange announced that Central Plaza Hotel Public Company Limited (Centel) will withdraw from the Cafe Amazon joint venture in Vietnam. This move reflects the company’s strategic realignment in response to the increasingly competitive coffee market landscape.
This decision coincides with the dissolution of ORC Coffee Passion Group (ORCG), the legal entity operating Cafe Amazon in Vietnam. ORCG was a joint venture between Central Restaurants Group (Vietnam), an indirect subsidiary of Centel holding 40% of the shares, and PTTOR International Holdings (Singapore), a subsidiary of Thailand’s PTT Oil and Retail Business, holding the remaining 60%.
In a statement to the Bangkok Stock Exchange, Centel explained that the withdrawal aims to “reprioritize business focus” and adapt to market challenges. As of August 31, Centel’s investment in ORCG totaled 56 million baht, approximately USD 1.72 million.
Alongside the capital withdrawal and joint venture dissolution, market sources indicate that Cafe Amazon has begun returning or transferring several prime retail spaces in Ho Chi Minh City. Lease availability notices have appeared at former strategic locations, including prominent corner properties in bustling areas. These include 162 Nguyen Thai Binh and 63 Dinh Tien Hoang (former District 1), 822 Su Van Hanh (former District 10), 444 Hoang Van Thu (Tan Son Nhat Ward), and 792 Nguyen Kiem (Hanh Thong Ward, Go Vap District).
These locations, once considered “prime real estate” due to their high-traffic commercial and residential areas, were central to Cafe Amazon’s market expansion strategy. The emergence of “For Lease” signs at these sites clearly signals the brand’s operational downscaling in Vietnam.
Upon entering Vietnam in late 2020, Cafe Amazon announced ambitious plans to expand its coffee shop network nationwide. Prior to the recent closures, the chain operated 12 stores in Southern Vietnam, primarily in Ho Chi Minh City.
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