VietNamNet Bridge - Vietnamese people are accustomed to fast food brands such as KFC, Lotteria and Jollibee. In recent years, the fast food market of Vietnam welcomed more foreign brands like McDonald's and Burger King. However, they do not seem to be meeting the expectations of investors. Coming to Vietnam in 1998, Lotteria is now leading the fast food industry in the country with 211 restaurants in more than 30 provinces and cities. Along with many other subsidiaries of the Lotte group in Vietnam, this brand has become familiar to many Vietnamese people. According to Cafebiz, by the end of 2015 the number of Lotteria restaurants in Vietnam was 207, compared to 140 stores only in late 2012. The current number is 211. Thus, from 2013 to 2015, Lotteria chain grew strongly, with nearly 70 new stores. On average more than 20 new stores wopened each year. However, the market does not seem vibrant as before. Lotteria opened only four new stores in the last six months, a modest figure … [Read more...] about Is the golden age for fast food over?
Fast food restaurants open late
Vietnam’s fast food market has been growing at a fair clip, but local suppliers are missing out on the action Customers queue outside the first branch of McDonald’s Corp. in Ho Chi Minh City on the opening day of February 8. Photo courtesy of Diep Duc Minh McDonald’s said it attracted 20,000 customers and earned around VND1.5 billion (US$71,130) on its first two days in Vietnam in early February. The US fast food giant said it plans to open more outlets this year, to catch up with chains including Burger King Worldwide which opened its first restaurant in Vietnam in 2011. Industry insiders say it is time for Vietnamese firms to find ways to enter the fast food market, which according to the Ministry of Industry and Trade earned VND870 billion in 2011 and is growing at 26 percent a year. Local suppliers have not made their presence felt for nearly two decades that the fast food market has been growing in Vietnam. Foreign fast food chains still rely on importing … [Read more...] about Vietnamese firms yet to cash in on fast food boom
Fast-food franchises too costly for local market (04-09-2007) A KFC shop on Hai Ba Trung Street in HCM City. Global franchisers are increasingly staking out a position in the local market. — VNS Photo Doan Tung HA NOI — With Viet Nam something of a final frontier, global franchisers are increasingly staking out a position in the local market. KFC, Lotteria, Jollibee and Gloria Jean’s Coffees have recently opened outlets in HCM City and Ha Noi. Two leading US franchises, McDonald’s and Starbucks, are expected to soon enter the market in force. KFC hasn’t lost any time, opening restaurants at a pace of 13 to 15 per year. It already has 38 outlets in Viet Nam and expects to operate 100 here within three years. Pizza Hut, which, like KFC, is a Pepsi-Cola subsidiary, has opened its first two Pizza Hut restaurants in HCM City, targeting 20 outlets nationwide by 2010, mostly in HCM City. Not to be left behind, Korean fast-food chain Lotteria has already … [Read more...] about Fast-food franchises too costly for local market
With the aim of building a Vietnamese brand in the fast food industry, young entrepreneur Nguyen Danh Hien created iBanhmi serving banh mi (Vietnamese stuffed baguette) that is inspired by cooking styles in many foreign cities but still maintains a real Vietnamese taste. Nguyen Danh Hien studied in Switzerland and worked in managerial positions for many high-end restaurants and hotels in Vietnam. However, his dream was to create a Vietnamese fast food brand. In a wide range of signature cuisines of Vietnam, the Western-educated young man chose banh mi to build his own brand. iBanhmi is a shortened version of the popular cry “Ai banh mi day” (who wants to buy a loaf of bread?) of banh mi vendors, which remains in the memories of many Vietnamese city dwellers. When studying abroad, Nguyen Danh Hien often told his friends about the cry. After two years of market research, especially the purchasing habits of Vietnamese, as well as thorough preparation in long term strategy … [Read more...] about iBanhmi Vietnamese Style Fast Food
The world of fast-food which is expanding in Vietnam, is expected to get a boost in the coming years with big new players arriving. Young people will help to develop the fast-food market Since 1997, Vietnam's fastfood market has been on the rise with many big names such as Lotteria with 162 restaurants, KFC with 130 restaurants and Jollibee with 30 restaurants. The Subway restaurant chain announced its expansion plan in late 2012 and other names that are becoming more familiar are Burger King, Pizza Hut and Popeyes. Vietnam is a promising market with 90 million people, of whom over 65% are under 35 years old. Though people have tightened their belts during the economic downturn, the fast-food market is still growing at the annual rate of 26% while other industries saw a decline. Vietnam was also ranked 8th in the Asia Pacific region in terms of food and beverage business environment by Business Monitor International in 2011. Lotteria Vietnam's business development director Nguyen … [Read more...] about Vietnam fast-food market sees bright future