Appointed as CEO of Phuc Long in November 2024, Patricia Marques is a seasoned entrepreneur in the F&B industry, having led Starbucks Vietnam for over 11 years.
After being acquired by Masan in 2022, Phuc Long’s revenue gradually improved, increasing by nearly 12% in Q4/2024 compared to the same period the previous year. Phuc Long’s upcoming goal is to focus on improving LFL growth (like-for-like revenue from existing stores) and integrating its loyalty program into Masan’s ecosystem to optimize profit margins. On this occasion, Patricia Marques had a conversation with VnExpress about the market landscape and Phuc Long’s strategic direction.
- You often speak of your love for Vietnamese tea. What does it mean for you to lead Phuc Long, a brand that celebrates and develops Vietnamese tea?
- I love tea and I love drinking tea. I clearly remember about 12 years ago when Phuc Long opened its first store on Le Loi Street, near my house. I was very excited because I could just walk across the street and enjoy a cup of Phuc Long.
Now, as the one leading Phuc Long, I feel truly privileged. I have the opportunity to bring change and growth to this Vietnamese tea brand, while still getting to enjoy its wonderful teas. That brings me great joy.
- Back in 2024, was there a specific moment or person that convinced you to become Phuc Long’s CEO?
- Yes, there was a very important person in that decision — the CEO of Masan Group. He met with me, and we had deep conversations about his expectations for Phuc Long. Those discussions convinced me this was an amazing opportunity.
What impressed me most wasn’t what he said, but how he expressed his vision for Phuc Long. I felt his passion and dedication to the brand — a company that has brought tea to generations of Vietnamese people for nearly 60 years. His trust in me and his determination to build up Phuc Long were what ultimately persuaded me to take on the role.
- What makes this CEO role feel like the right move at this point in your career?
- I think it’s an exciting opportunity and also a great responsibility — not just because the company is undergoing transformation, but also because I feel I can contribute to the sustainable growth of a beloved Vietnamese tea brand. Phuc Long has 250 stores and an incredibly talented Vietnamese team.
- Does that exciting opportunity include “upgrading” in Vietnam’s F&B industry?
- Vietnam’s F&B market is indeed highly competitive. In many other countries, only one or two major brands dominate, while the rest are smaller players. In Vietnam, there are many brands like ours, all competing for customers’ attention and loyalty.
If a customer walks into any store and doesn’t feel welcomed, they will immediately leave — because there’s always another option right next door. Customers are very aware of this.
Looking ahead 3 to 5 years, I believe F&B, like all industries in Vietnam, will undergo massive changes. I came here 15 years ago, and the pace of development has been unbelievable. I think in the next 5 years, even the areas that haven’t drawn much attention yet will boom — with new buildings, residential complexes, commercial zones, and parks popping up.
In that context, continuing Phuc Long’s nearly 60-year journey to bring bold, flavorful teas to the new generations is truly exciting.
- Who are Phuc Long’s customers? Are there differences in gender, age, or how they experience beverages?
- In general, our gender ratio is quite balanced. Our core customer group is in their late 20s to early 40s. On weekends, you’ll often see entire families visiting the store — typically three generations dining together. It’s common for parents to take their kids and grandparents out for lunch, then head to Phuc Long for tea or coffee afterward.
- Does Phuc Long have specific strategies to target different age groups or geographic areas?
- There are big differences between age groups and generations, but tea can connect them all. You might be drinking hot tea while your younger brother enjoys lychee tea — it’s that simple.
Tea is very approachable. So what I need to do is introduce a wide variety of teas. For example, younger customers often visit after dinner with friends — around 8 PM, they hang out until 10. In such moments, how you present the product and the occasion is more important than the drink itself. I believe we’ll see grandfathers, fathers, and sons — multiple generations — enjoying tea together at Phuc Long stores.
One thing Phuc Long does well is making use of Vietnam’s amazing tropical fruits. Our fruit teas are very popular. Once again, I think choosing the right recipe and serving it at the right time of day is key to satisfying customer preferences.
- What’s the most important factor in building a strong beverage brand: product quality, customer experience, or scale?
- All of them are important. As I mentioned, Phuc Long is in a highly competitive market. So availability and convenience are critical. Consumers know they have many options. Their decision comes down to three factors: how much time they have, how rushed they are, and how badly they want that particular drink.
That’s why we’re focused on improving our human resources — ensuring all employees are well-trained from day one. In terms of quality, I think it’s just as important as service. Without these two, having many store locations doesn’t mean much. I’m proud to say that Phuc Long’s product quality is consistently strong. Our quality control team is one of the most professional I’ve worked with in any F&B company. We’ll continue to maintain and improve this standard while constantly researching and developing new, high-quality, appealing beverages.
Lastly, we will definitely continue expanding our brand. Maintaining and opening more stores is essential for Phuc Long to stay close to customers and grow further in the future.
- Phuc Long is planning to redesign its stores and create a distinct space. What is your goal with this?
- We are continuing to reflect on the design style for our new stores. Vietnamese people are drawn to things that reflect Vietnam. They pay attention to their culture, which is something very admirable. As a foreigner, I feel proud and happy to witness what is happening here. I believe we can showcase more of the beauty of tea, tea culture, and tea utensils. Approaching young people through a lifestyle angle will be more practical.
We are in the process of upgrading and developing our stores. Many Phuc Long locations are currently being renovated, and this process will continue. We have a clear and strong objective for this. The stores will feature more tea-related imagery. These may include beautiful photographs of tea, tea cultivation, plantations, and harvesting methods. It is both fascinating and romantic to see baskets filled with tender tea leaves and how they are collected.
- How will Phuc Long integrate its membership program into Masan’s ecosystem? And how will the company use technology to retain customers?
- Masan is a major consumer-retail group. By integrating into the group’s ecosystem, we can create many advantages. For example, if customers shop at WinMart supermarkets and earn reward points, then use those points to buy tea at the neighboring Phuc Long store – isn’t that a seamless experience? We want everything to be connected smoothly.
Digitalization is almost inevitable. We barely use cash anymore. Gen Z doesn’t use credit cards; they use QR codes. That’s part of development and how the digital world operates. We are applying all available digital tools to make our daily operations smoother, faster, and more eco-friendly.
We are researching how to implement technology, as well as how to produce sustainable packaging that’s better for the environment. We want to add design touches to our drinks and tell stories about green tea and tea plantations from across Vietnam.
- What is your vision for Phuc Long over the next 5 to 10 years?
- My vision is to develop Phuc Long into a more sustainable, greener company that can deliver beverages, food, and goods across generations. We want to be a bridge in the moments of rest that consumers seek after work – whether at home or while meeting friends. We will certainly expand our presence and appear in more cities, so that more Vietnamese people can enjoy the wonderful teas we offer.
- What is the biggest challenge for you when working with a Vietnamese team? What have you learned from them, and what have they brought to you?
- I don’t think there’s a big difference between working with Vietnamese people or with Germans, French, or others. I’m used to working in a foreign country and adapting to the team — not asking the team to adapt to me. You need to take time to listen, learn, observe, and respect. The more you do it, the better you become. I hope to share my experience in the most humble way possible and hope young people can learn from me.
We can’t talk to Gen Z the same way we talk to Gen Y. You have to respect each customer’s individuality, and from there, create different content and stories to reach them. Young consumers enjoy real-life experiences — seeing things with their own eyes, taking photos for Instagram, or filming TikToks in-store. Meanwhile, older generations want stability. They don’t want changes to drink recipes and will question if anything tastes different. We talk to them, show care, and introduce products to each generation in a different way.
That’s one of my greatest joys: managing a diverse team and serving a customer base with varied interests.
- What brought you to Vietnam and made you stay for more than a decade?
- In 2008, I was working in fashion, but the industry was hit hard by the financial crisis. Then a friend invited me to Vietnam to help him run a company. Fifteen years have passed, and I’ve fallen in love with this place. I’ve tried every type of beverage in Ho Chi Minh City — from milk coffee to corn juice and rice water. I prefer iced black coffee. Here, people are often served a drink at street food stalls or canteens, and there’s such variety.
I think life moves in cycles, and we need to know how to seize the opportunities at each moment. Whatever happens, you should make the decision that truly reflects what you want. If you love architecture but think becoming a doctor is better, I don’t think you’ll become a great doctor.
Follow your heart, and don’t give up. No matter what’s happening now, it will pass. The good days are still ahead.
Source: Vnexpress