According to the second-quarter financial report of Jollibee Foods Corporation (JFC), the parent company of Highlands Coffee, the coffee chain's earnings before interest, taxes, depreciation, and amortization (EBITDA) reached approximately 1.2 billion pesos (equivalent to nearly 572 billion VND) in the first half of the year. This represents a 5.8% increase compared to the same period last year.
On average, the company earns nearly 3.2 billion VND (approximately USD 130,000) per day. The chain contributed nearly 26% to the EBITDA of JFC's coffee and tea segment. Across the entire corporation, Highlands Coffee contributed over 5.9%.
Profitability improved as same-store sales increased by 4.4% compared to the same period last year. This metric only considers stores that have been operating for at least 15 months and excludes newly opened locations. The number of transactions also improved by 2.3%, while the average revenue per customer increased by an additional 2%.
The report did not specify revenue figures. However, SuperFoods, the company behind Highlands Coffee and Pho24, reported revenue of over 5.6 billion pesos (equivalent to over 2,575 billion VND), a rise of more than 12%. While Pho24 has only 14 stores, this suggests that the coffee chain's revenue contributes significantly to SuperFoods' overall performance.
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The new "drive-thru" model (buying coffee without leaving your car) has been launched in Ho Chi Minh City. Photo: Highlands |
The new "drive-thru" model (buying coffee without leaving your car) has been launched in Ho Chi Minh City. Photo: Highlands
Highlands Coffee is currently the largest coffee chain in Vietnam. As of the end of June, the company owned 896 stores domestically and internationally, including both company-operated and franchised models. In the first six months of the year, they opened 62 new stores but also closed 16 locations.
The brand was established in 1999, starting with packaged coffee products in Hanoi. In 2002, Highlands Coffee expanded into the coffee chain model with its first store in Ho Chi Minh City. Since then, the chain has continuously grown, becoming a well-known coffee brand operating not only domestically but also internationally.
In 2012, Highlands Coffee was acquired by Jollibee Foods Corporation, a restaurant group in the Philippines. Speaking to VnExpress in April, founder and CEO David Thai affirmed that the coffee chain remains a Vietnamese enterprise. Jollibee acts as an investor and strategic advisor, not involved in the daily operations of the business. The management and human resources of Highlands Coffee are under the leadership of David Thai.
Thai attributed the company's positive business results to their understanding of the business model and focus on customers, along with a clear positioning of the services they provide in terms of products, pricing, and taste. They researched how to build an optimal process and prepared sufficient resources for implementation. After establishing a systematic business model, the company replicated it. The chain prioritizes flavor, dedicating significant resources to product innovation before investing in marketing.
David Thai stated that Highlands Coffee will be listed on the Vietnamese stock market in the future. However, the specific timing has not yet been revealed.
Tat Dat
