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Carl's Jr. enters Vietnam
May 31, 2010
Carl's Jr. has opened its first restaurant in Ho Chi Minh City, Vietnam, the first major Western quick-service hamburger chain to open in the market. The opening this week also marks the first of at least 25 Carl's Jr. units to be opened in Vietnam over the next six years.
The restaurants in Vietnam will be operated by Mesa Asia Pacific Trading Services Co. Ltd., whose parent is a successful holding company specializing in consumer goods distribution, restaurant operations, media and real estate development.
Carl's Jr.'s entry into the Vietnam market is part of parent company's CKE Restaurant Inc.'s strategic plan to accelerate franchise development in international markets and grow its system as a whole. The 25 restaurant-development deal is part of a greater development plan that CKE Restaurants has for Asia. The company currently operates in China, Singapore, Malaysia, American Samoa and now Vietnam.
The company's next step is to enter Indonesia later this year after it recently signed a commitment agreement with PT Fortune Foods Ltd. to open 25 Carl's Jr. restaurants in Jakarta, Indonesia. CKE continues to expand its presence in the region and is actively seeking new franchisees.
"We are very pleased to welcome Mesa Group Inc. as a part of the CKE team. The strength of our brand matched with Mesa's expertise and knowledge of the Vietnamese market gives us confidence that we will have a bright future in the market," Andrew F. Puzder, CEO of CKE Restaurants Inc., said in a news release. "The growth in the Vietnamese consumer market is truly remarkable, and we wanted to take this opportunity along with the Mesa Group to (employ) a 'first-mover' strategy in our segment. In this regard, we are happy to introduce real, American-style charbroiled burgers to the market."
CKE franchises 342 international restaurants between both its Carl's Jr. and Hardee's brands. The company has strategic development plans to double its international presence within the next five years.
Other QSRs are focused on Vietnam and similar emerging markets These markets, which also include Indonesia, Malaysia, India, Russia, Vietnam and Brazil, have gross national income per capita of less than $12,000 and a booming middle class population. Yum! Brands, which has KFC and Pizza Huts stores in Vietnam, has said its international division is focused on expanding in such markets.
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