Yellow Cab debuts in Vietnam
Homegrown pizza chain Yellow Cab, one of the popular restaurant brands operated by the country’s leading casual dining chain Max’s Group Inc. (MGI), is set to debut into 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.
“We are encouraged by the interest and result of our initial foray in Vietnam. 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,” said MGI president and chief executive officer Robert Trota.
This marks the first development agreement signed by MGI for 2017, bringing its total international pipeline in the following years to 165 outlets.
“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 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 of the F&B (food and beverage) industry and a lot of western and casual dining restaurants are flourishing in Vietnam. Pizza is one of the most preferred food offerings, and we believe that Yellow Cab Pizza, with its contemporary and hip look and feel inspired by New York, will appeal to them,” said Nguyen Thanh Nam, chief executive officer of Blue Star Food Corp.
“We are very excited to partner with Max’s Group, a company that has abundant experience not only in the Phililppines but also in the international market. We are looking forward to working closely with MGI to bring the best quality pizza experience to Vietnam,” Tranh Nam said.
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.
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