Masan Group appoints Patricia Marques as CEO of Phuc Long Coffee & Tea

Phuc Long Coffee & Tea currently operates 174 outlets across Vietnam | Photo credit: Masan Group

Vietnamese retail giant Masan Group has appointed former Starbucks Vietnam General Manager Patricia Marques as the new CEO of Phuc Long Coffee & Tea. 
 

Ho Chi Minh City-based Masan Group highlighted Marques’ track record of scaling food and beverage brands in Vietnam and her ‘strong passion’ for Vietnam’s tea culture as key to her appointment. 

Marques served as Starbucks Vietnam General Manager from November 2012 until November 2023, during which she oversaw the coffee chain’s development from a single store in Ho Chi Minh City in January 2013 to its 100-store milestone in September 2023. 

Marques initially indicated she would retire after leaving Starbucks but has since held a part-time role as Head of Business Development role at Maxim’s Group, which licenses Starbucks across seven East Asia markets, since December 2023.  

Phuc Long Coffee & Tea reported VND 1.53trn ($62.9m) net revenues and VND 255bn ($10.4m) EDITDA in 2023. Following a 6% year-on-year sales fall in the first quarter of 2024, the coffee chain returned to revenue growth in the three months ended 30 June 2024 before posting a 13% year-on-year sales increase in the third quarter to reach VND 425bn ($16.7m). 

Masan Group, which increased its stake in Phuc Long Coffee & Tea to 84% in August 2022, has credited new flagship stores and the closure of underperforming kiosks within its WinMart retail network as driving higher sales and profits for the coffee chain. Phuc Long Coffee & Tea currently operates 174 outlets across Vietnam.