Leading casual dining chain Max?s Group Inc. has inked a deal to bring its Yellow Cab Pizza restaurant brand to Vietnam, accelerating its offshore expansion program.
The agreement reached with Blue Star Food Corp. calls for the establishment of at least 12 Yellow Cab Pizza stores across Vietnam within five years.
Blue Star is a growing food and beverage company which operates more than 45 outlets of Baskin Robbins in Vietnam since 2011.
?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 CEO Robert F. Trota.
This 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.
?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,? said Nguyen Thanh Nam, CEO of Blue Star.
?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. 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,? he added.
Max?s Group continues to actively seek reputable franchise partners who share in its vision of building loved brands overseas.
Yellow Cab currently operates a network of 150 branches including eight franchised outlets in Qatar, two in United Arab Emirates, one in Saudi Arabia, two in China, one in Hawaii and one in Singapore.
Apart from Vietnam, the group plans to open flagship stores in Jordan, Kuwait, Bahrain, Egypt and Oman.