(Source: Business News Asia | 09 February 2017)
Yellow Cab Pizza is opening its first store in Vietnam through a partnership between Yellow Cab owner Max’s Group Inc (PSE:MAXS) and Vietnam’s Blue Star Food Corporation.
Here are some fast facts about Yellow Cab Pizza’s debut in Vietnam:
Max’s Group and Blue Star Food to Open a Dozen Yellow Cab Pizza Stores in Vietnam
Vietnam will soon see at least 12 Yellow Cab Pizza stores within five years. The deal between Max’s Group and Blue Star Food marks the first development agreement signed by Max’s Group for 2017, translating to a total international pipeline of 165 outlets slated to open in the coming years.
“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 Max’s Group President and Chief Executive Officer, Robert F. Trota.
Blue Star Food to Anchor the Franchising Setup
Under the agreement, Blue Star Food Corporation will utilize its vast retail experience and proven track record to anchor the franchising setup, said Trota.
“From our end, we shall provide the necessary marketing and operational assistance for this partnership,” he added.
Blue Star Food Corporation is a growing F&B company with a young, dynamic and professional team with feasible investment strategies in F&B industry in Vietnam.
It operates more than 45 outlets of Baskin Robbins in Vietnam since
2011. Blue Star Food Corporation will open at least 12 Yellow Cab Pizza stores within five years across Vietnam.
Yellow Cab Pizza Targets Vietnam’s Young, Affluent Demographic
Vietnam is a fast growing young country. About 60% 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 industry and a lot of western and casual dining restaurants are flourishing in Vietnam.