Smoothie King Vietnam expansion plan
South Korea’s Shinsegae Group is to buy the Korean network of 105 Smoothie King stores and launch the brand into Vietnam.
Smoothie King Vietnam will initially be focused on the Ho Chi Minh City and Hanoi markets.
Based in the southern US city of New Orleans, Smoothie King produces and markets smoothies, juices, sports drinks, energy bars, vitamins and health supplements. It currently boasts more than 700 locations worldwide and is targeting 1000 by the end of 2017.
The Vietnam news follows an announced expansion into the Middle East earlier this year, commencing in Dubai.
“This deal is monumental for Smoothie King – and one that we thought long and hard about. I was the master franchisee in Korea and bought the brand in 2012, making growth a primary goal for the company,” said Smoothie King CEO Wan Kim.