The Coffee House

Most Love The Coffee House but Seedcom Lost Over $50M for $10.5M to Golden Gate Restaurant Group Founded in 2014 by Nguyễn Hải Ninh, The Coffee House was made for community. He repeatedly refused to franchise, ate losses to keep customer experience intact, and told staff to honour expired coupons to keep customers happy. By 2018 it had 100+ stores and a $50M valuation - But selling their $2 coffee was not enough. They didn't have a single profitable year between 2019 and 2024. Its owner, Seedcom, ate a cumulative loss of roughly $46–49M before finally selling 99.98% of the company to Golden Gate Group for $10.5M in early 2025. Golden Gate, Vietnam's largest restaurant operator (Gogi House, Kichi-Kichi), has spent the past year cutting a third of the stores, and integrating The Coffee House into its supply chain, and adding food to the menu ramping up AOVs. Now with the rise of Katinat, Every Half and Highlands targeting low to high end, The Coffee House sits right in the middle of it. As it seems inevitable for Golden Gate to get back a higher return than Seedcom could, will they bring The Coffee House Back?