RTD product had been distributed to more than 17 Asian countries and the USA. In 2011, Highlands Coffee purchased the pho chain Phở 24 from Lý Quí Trung for an estimated US$20 million. The next year, Highlands sold 50% of its shares to Jollibee Worldwide for US$25 million. In March 2012, under a partnership with Philippine Internet café company Digital Paradise, the first hybrid Highlands/Netopia internet café and coffee shop was opened in the Philippines. In December 2022, it was reported that Jollibee was seeking to sell a 10-15% stake in Highlands to an undisclosed investor. Organization Highlands Coffee is a registered brand of Viet Thai International Joint Stock Company. Besides ownership of the Highlands Coffee brand, Viet Thai also owns sole franchising rights in Vietnam for several major international brands such as Nike, Aldo Shoes, La Vie en Rose lingerie, and Hard Rock Cafe. The company also operates restaurants and cafeterias in Vietnam, and caters to the local headquarters of Intel Corporation. Executive staff include recruits from such companies as Coca-Cola and Starbucks. Brand Collaborations Collaboration With Jollibee Foods Jollibee owns several of the markets of the fast-food chains in the Philippines. On November 22, 2019, it made its joint venture with the Vietnamese brand Highlands Coffee public. Jollibee had signed an agreement to make their joint venture firm ‘Superfoods Group’ to list at the Vietnam Stock Exchange. Superfoods is the owner of Highlands Coffee and other brands, such as Pho 24. In addition to being the fastest-growing joint-ventures of Jollibee, Superfoods has $55 million worth of annual sales. Moreover, with its revenues going 36% for its first nine months of operation, Highlands Coffee is currently basking in the growth rate of 78% from last year. As per the agreement between Jollibee and Highlands Coffee, Jollibee will be the owner of 60% of the joint venture ‘Superfoods’, while Highlands Coffee will have the remaining 40%. Superfoods, through the Highlands packaged products and coffee shops, aims to offer the Asian consumers great café and coffee experience at reasonable prices. Moreover, it also aims to provide the Asian consumer healthy and high-quality Vietnamese food through their Pho 24 brand. IP Ventures and Highlands Coffee IP Ventures—a private holding company in the Philippines—became the franchisee of Highlands Coffee in 2011. IP Ventures signed an agreement with the Viet Thai International Joint Stock Company, which owns the Highlands Coffee brand, to officially have