“Due to franchising complications
and Vietnam’s tough economic climate, Lotteria has decided to postpone
concessing its trade name to 2013,” said Cho Young Jin, general director of
Lotteria Company Limited.
Lotteria first mulled over
franchising deals with Vietnamese firms in 2007 after it opened 30 outlets in
the country. However, Lotteria revealed that the current time was inappropriate
for the company to franchise partly because its target of opening 100 outlets
in Vietnam was already achieved.
“Other prominent brand names such
as McDonald’s and Burger King are to set up their chains of fast-food outlets
in Vietnam. Burger King once stated that an outlet should be opened for each
160,000 people. We have the same strategy,” Jin said. “That shows that Vietnam
is a potential market. In the coming period, Lotteria will simultaneously carry
out its investment expansion and franchising strategy aiming at growing its
presence in the Vietnamese market.”
vir.com.vn
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