Golden Gate Acquires The Coffee House

Golden Gate, the company behind restaurant chains like Gogi House and Kichi Kichi, has acquired The Coffee House from Seedcom. The deal was reportedly completed in December 2023, though Seedcom has not confirmed it officially.

Golden Gate, despite serving nearly 20 million customers yearly, saw a 10% revenue drop in 2023, earning 6.288 trillion VND, with

falling to 139 billion VND. The company canceled its 53% d to focus on in 2024-2025.

The Coffee House has

, with its market share dropping to 2.02% and decreasing by 11% to 700 billion VND in 2023. After-tax losses 100 billion VND in both 2022 and 2023, and the number of has to 93.

To adapt, The Coffee House has

its focus to , with its app contributing to half of daily by late 2024. The reflects Golden Gate’s strategy to diversify in Vietnam’s competitive F&B market.