The Coffee House operator continues to rake up losses

Seedcom, which owns The Coffee House and fashion store chain June, has reported a 14.5% increase in losses to VND270 billion ($11.5 million) last year.

However, revenues rose by 60% thanks to increasing contributions by its fashion and supermarket chains, according to its consolidated financial results.

Since the onset of the Covid pandemic, it has made losses for three straight years.

Seedcom chairman Nguyen Hoanh Tien said that last year’s losses were inevitable because the company expanded its retail networks.

“High-interest rates, rising rents, and increased costs of raw materials and logistics strongly affected the profit margin of the retail industry.”

Last year Seedcom’s liabilities decreased by 16% to VND1.2 trillion. This year it redeemed bonds worth nearly VND250 billion.

It owns delivery companies AhaMove and Giao Hang Nhanh, fashion brands WeStyle, Juno and Hnoss, online retail platform Haravan, and restaurant management solutions provider iPOS.

Latest articles

Fashion
Levi’s unveils new Icon store at Palladium Mall Mumbai

Must read

Behind the Buzz
Retail News Asia — Your Daily Fix of What’s Happening in Asian Retail

We’re here to keep you in the loop—every single day. Whether you’re running a small local shop, scaling an online biz, or part of a global brand making moves in Asia, we’ve got something for you.

With 50+ fresh stories a week and 13.6 million readers, Retail News Asia isn’t just another news site—it’s the go-to source for all things retail across the region.
Retail Updates
Fresh updates. Real insights. Delivered daily or weekly—no spam, just retail gold.
Copyright © 2014 -2025 | Retail News Asia