(Source: Inside Retail Asia | Sept. 7, 2015)
Filipino corporate restaurateur Max’s Group is to launch its Sizzlin’ Steak concept in Vietnam.
Max’s Group is the largest casual dining restaurant company in the Philippines. It owns Yellow Cab Pizza, which it recently launched in the UAE.
Sizzlin’ Steak is an eight year old Japanese steak barbecue concept, serving steak and other meats cooked on hot plates at low price points. Barbecue style dining concepts are popular amongst Vietnamese.
Max’s is entering Vietnam in partnership with L Concepts, a subsidiary of the Longfort Group, which focuses on developing unique dining concepts and brands in Southeast Asia.
According to documents filed with the stock exchange in Manila, L Concepts will open a minimum of 10 Sizzlin’ Steak restaurants in Vietnam within five years. Max’s currently has 10 in metro Manila and is considering a pilot store in the US.
Max’s Group president and CEO Robert Trota says the company plans to add at least 200 stores to its overseas network by 2020.
“We envision to rollout our key brands outside the Philippines with strategic franchise operators. As new markets are established and momentum builds in the next few years, we expect the international portion of our business to be a significant contributor to system-wide sales and to our bottom line,” he said.