Vietnam's F&B companies remain upbeat despite downturn

A Mixue store. Vietnamese consumers could continue to spend in F&B with a tendency of choosing products with more reasonable prices. — diendandoanhnghiep.vn

HANOI (Xinhua): While worries about a possible recession have led to shrinking consumer buying power, the food and beverage businesses in Vietnam remain optimistic about their performance this year, Vietnam News reported on Monday (June 5).

Helped by low franchising fees, Chinese Mixue, whose snowman-logo shops sell ice cream, bubble tea, and a variety of drinks, has reached 1,000 locations in Vietnam over the past five years, far ahead of other foreign and homegrown brands that had previously dominated the market.