HANOI, NNA – Japanese hamburger chain operator Mos Food Services Inc. is entering the Vietnamese market in its broader efforts to expand overseas operations.
It will establish Mos Burger Vietnam LLC in March with V Lotus Investment Co., Lotus Food Group Joint Stock Co.’s group arm overseeing dining business, a Mos Food Services spokeswoman told NNA Thursday.
Le Van May, president of the local partner, told NNA they plan to open an outlet in Ho Chi Minh City around June, and subsequently launch stores in Hanoi in addition to the country’s commercial capital.
The Tokyo-based firm will hold a 26 percent stake in the joint venture, and V Lotus will own 74 percent, according to Mos Food Services’ statement on Thursday.
The Japanese dining outlet operator hopes to open 10 directly managed shops by March 2024 in Vietnam, its 10th foreign market, the statement said.
Mos Food Services is revving up its store networks abroad and is planning to launch its first Philippine outlet by March after a seven-year hiatus since its entry into South Korea in 2012, according to the firm
The company has opened hamburger shops in other countries such as China, Indonesia and Australia. The total number of stores outside Japan stood at 381 as of October, it said.