Boom time for foreign fast-food
HCM CITY (VNS)— With a young population and fast income growth, Viet Nam is seen as a promising market for foreign fast-food companies.
|Viet Nam is seen as a promising market for foreign fast-food companies due to its young population and fast income growth. — VNS Photo Doan Tung
After opening four stores at airports in the country in one year, the American fast-food company Burger King launched its first store in the centre of HCM City recently.
It aims to open 12 stores in HCM City, Ha Noi and Da Nang by the end of the year.
"In my opinion, we are in a boom time for the fast-food industry. It's not too late to find retail spaces to open stores, and it's not too early to run a trial," said Le Hong Thuy Tien, chairwoman of the Blue Kite Food and Beverage Services Company Ltd, which owns the Burger King franchise in Viet Nam.
Tien told Viet Nam News that her company would invest about US$40 million to develop the Burger King trademark in the country. She added that they hoped to open as many stores as possible.
Representatives for two other fast-food companies, Johnny Rocket and McDonalds, have visited the country to study the market.
They have plans to open stores in one to two years, initially in the country's major cities, HCM City and Ha Noi.
While fast-food newcomers to Viet Nam are seeking ways to gain a foothold in the market, others companies that have been here for years, such as KFC, Lotteria and Jollibee, are making changes to maintain their customer base.
After nearly 15 years of operating in Viet Nam, KFC has opened nearly 130 stores.
Le Hoai Nam, a senior official at KFC, told Tuoi Tre (Youth) newspaper that the company had changed its store design to reflect a more open, youthful look.
Meanwhile, Lotteria has also made changes to catch up with the new habits of local clientele.
They are opening stores that have large spaces and installing computers that have access to the internet.
The company's marketing director, Truong Ham Liem, said they wanted the stores to become a destination for Vietnamese students.
Lotteria, which has more than 120 stores, aims to have a total of 140 open by the end of the year.
Other fast-food companies, including Jollibee, Pizza Hut and Pizza Inn, are also opening more stores in the country. — VNS