In Vietnam, ToCoToCo bubble milk tea is enjoying rapid and sustainable growth in 2023, and now boasts of more than 700 stores in 56 out of 63 localities nationwide.
ToCoToCo has become one of the fastest growing milk tea brands in the country, and is now looking at overseas markets to further its growth. The brand is expanding its presence with stores in Australia, Japan, and the US.
ToCoToCo has even diversified into ToCoToCo Ice Cream model with the eye-catching orange color scheme, and the latter now already has 100 stores selling ice cream and coffee.
Presently, 60% of ToCoToCo stores are franchise stores, as its franchisees see it as a profitable model with many already opening 4-5 stores each on their own.
A Nielsen survey in 2020 ranked ToCoToCo as the most popular milk tea brand in Vietnam. Its popularity stems from its use of quality raw materials which it sources from the local market. For example, its products’ main ingredients include green and oolong teas that meet organic standards from Phu Tho in Thai Nguyen, cassava from Nghe An, as well as fresh fruits grown and harvested from renowned agricultural regions such as Dalat and Ninh Binh amongst others.
Every year, ToCoToCo sells 3 million cups of milk tea, produces over 1.5 million kg of pearls and 1.2 million kg of fruit preserves.
Its Founder Amy Truong is optimistic of the company’s long-term growth despite the bubble tea market getting more competitive.
