Max’s to bring Yellow Cab to Vietnam
Homegrown pizza chain Yellow Cab, one of the restaurant brands operated by the country’s leading casual dining chain Max’s Group Inc. (MGI), is set to debut in Vietnam’s consumer market.
MGI recently inked a development agreement with Blue Star Food Corp. to establish at least 12 Yellow Cab Pizza stores in Vietnam within five years, the company disclosed to the Philippine Stock Exchange on Thursday.
“This reaffirms the global mainstream appeal of some of our brands. As we prepare to launch Yellow Cab Pizza, we will constantly seek opportunities to broaden our reach within the region,” MGI president and CEO Robert Trota said.
This marks the first development agreement signed by MGI for 2017, as anchored on its goal of opening 165 international outlets in the next few years.
“Blue Star Food Corporation’s vast retail experience and proven track record will anchor this franchising setup. From our end, we shall provide the necessary marketing and operational assistance for this partnership,” Trota added.
Vietnam’s demographic matches the brand well, Blue Star added.
“Vietnam is a fast-growing young country. About 60 percent of the 95-million population is under 35 years old, and the country’s middle class is expected to double to 33 million people by 2020. This young and affluent demographic is leading the change in the food and beverage (F&B) industry and a lot of Western and casual dining restaurants are flourishing in Vietnam,” said Nguyen Thanh Nam, Blue Star CEO.
Blue Star Food is a growing F&B company in Vietnam. It has operated more than 45 outlets of Baskin Robbins in Vietnam since 2011.
For its part, MGI continues to actively seek reputable franchise partners who will bring its brands to overseas markets. Since 2015, MGI has expanded its presence in existing markets and likewise penetrated new territories, relying on a structured international franchising approach.
To date, Yellow Cab Pizza operates a network of 150 branches including eight franchised outlets located in Qatar, two in United Arab Emirates, one in Saudi Arabia, two in China, one in Hawaii and one in Singapore. Plans are underway to open flagship stores in Vietnam, Jordan, Kuwait, Bahrain, Egypt and Oman. —DORIS DUMLAO-ABADILLA
