The closure of one Starbucks Reserve branch and the opening of another is not unusual in Ho Chi Minh City, where such comings and goings occur almost daily. Especially post-COVID-19, many food and beverage (F&B) chains have been inclined to close outlets with high rental costs, relocating to more affordable areas and boosting online sales.
However, the announcement that the Starbucks Reserve branch on Han Thuyen Street will be closing its doors on August 26, 2024, has sparked a wave of surprise and dismay among the city’s residents.
Inaugurated in 2017, Starbucks Reserve Han Thuyen was the first and, until now, the only Reserve outlet in Ho Chi Minh City. It is one of just two Reserve branches in Vietnam, the other being located on Nha Tho Street in Hanoi.
Starbucks Reserve is a unique concept specializing in rare and exotic coffee beans from around the world. The branch on Han Thuyen Street was renowned for its masterfully crafted beverages, central location, and aesthetically pleasing ambiance, making it a popular destination for coffee connoisseurs.
The legendary Starbucks café on Han Thuyen Street will officially close its doors on August 26, 2024. (Source: Starbucks Fanpage)
The Starbucks Fanpage briefly stated, “After careful consideration of various factors, we regret to announce that the Starbucks Reserve Han Thuyen branch will cease operations effective August 26, 2024.”
Speculation suggests that the closure may be due to a significant increase in rental costs for the premises, rendering it unaffordable for the branch to continue operations. According to some sources, the monthly rent for this location is said to be as high as 750 million VND.
Starbucks also assured customers in their statement, saying, “Every ending marks a new beginning, and Starbucks Reserve will soon return at a different location, promising to bring you even more wonderful experiences.”
According to statistics on the Starbucks website, after 11 years in the Vietnamese market, the American coffee chain now boasts 115 branches nationwide, with over one-third of those located in Ho Chi Minh City.
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