Fast food giants such as McDonald’s and Burger King have dominated the sector globally for decades, but unique cuisine culture and uncommon spending behaviours means Vietnam is one of the few countries they are struggling to crack.
VOV.VN - On September 14, a large fire broke out in a cake shop on Bui Vien pedestrian street in Pham Ngu Lao ward of district 1 in HCM City.
As fast food giants Lotteria and KFC report losses despite dominating the domestic market, their attractiveness to customers shows no signs of abating.
In the fast food market, global giants McDonald’s and Burger King are leading the game. The Vietnamese market is no exception. But in the local market, these two players are encountering a tough rival: street food.
Most foreign fast food chains in Vietnam have failed to realise their initial expansion plans made upon entering the market. Recently, some have suggested that international brands have failed to defeat local Vietnamese food stalls.
Foreign fast food chains in Vietnam are some of the most famous in the world, but many of them have had to leave or close some of their shops in the country.
The heyday of fast food chains seems to be over in Vietnam. The number of fast food shops has been decreasing in an era when people are trying to ‘live slowly’.
Some foreign cafe chains, with powerful financial capability and strong brands, have left Vietnam, but many Vietnamese chains have been prospering.
According to Insider Retail, New York Dessert Coffee (NYDC) has closed all of its restaurants in Vietnam after many months of trying to continue to operate.
Franchising has grown into a prevailing investment channel with strong adaptability and a bright growth prospect in Vietnam.
Burger King, a famous fast-food brand, has experienced tough days in the Vietnam market.
BKV, the franchisee which brought Burger King to Vietnam, said it has shut down its third restaurant in HCM City and plans to march towards the north.
Ranked No. 7 of 101 countries and territories investing in Vietnam for the past five years, the United States has invested more capital in the country through new brands.
(VOV) - Burger King, one of the US fast food brands, officially inaugurated its first restaurant in the centre of HCM City on October 21.