Lotteria, South Korea’s Lotte Group’s fast-food chain, is considering expanding into Singapore and Malaysia through master franchise agreements as part of its plan to strengthen its presence in Southeast Asia, according to Business Korea.
CEO of Lotte GRS, Cha Woo-Cheol, has reportedly visited the two countries to evaluate the viability of operating there. The chain operates some 300 stores in six international markets – Vietnam, Myanmar, Cambodia, Kazakhstan, Laos and Mongolia.
Besides entering the two Southeast Asian markets, Lotteria also aims to further expand its store network in Vietnam – its biggest overseas market – from 256 stores currently to 400 by 2027. Lotteria Vietnam generated US$81.2 million in sales last year.
Earlier this year, Sukiya beef bowl chain’s operator Zensho Holdings acquired burger franchise Lotteria Japan from Lotte Holdings for an undisclosed sum as part of an operational restructuring by South Korea’s Lotte Holdings.
The company said at the time that the Lotteria brand would continue for a certain period after the transfer of the shares but the new owners may rename it in the future.
