Starbucks Vietnam: Finding A Strategic Spot For Its New Reserve Bar
01 The Challenge
Starbucks wanted to open its Reserve Bar in Ho Chi Minh City (HCMC) four months after opening one in Hanoi.
For this special concept, Starbucks required the coffee shop to be:
- A well-ventilated, 500m2 area
- Easily accessible from the main street
- A strategic spot in a high-end location
Starbucks approached Cushman & Wakefield to scout properties. Our team represented Starbucks in negotiations with the landlord as well.
02 The Solution
Cushman & Wakefield searched for suitable properties in the Central Business District and found a suitable property in Han Thuyen Street in District 1.
We negotiated with the landlord for two months. Eventually, we were able to seal the deal by finding a middle ground between Starbucks and the landlord.
03 The Results
Starbucks finalised its lease for a 500m2 area in Han Thuyen Street, District 1.
The Starbucks Reserve Bar opened in October 2017. Besides being located in a prime area, the café is also near Notre Dame Cathedral, a popular tourist spot.
Cushman & Wakefield was subsequently appointed as Starbuck’s leasing agency for its business expansion in Vietnam.
Meet the team
Executive Director (Head of Capital Markets)
District 1, Vietnam
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