Lotte GRS Opens 5th Lotteria Store in Laos... "Expanding Business in Vietnam"

Aggressive Investments Including Renovation of Aging Stores

Local customers are placing orders at Lotteria Branch No. 5 in Luang Prabang, Laos, Vietnam.

[Asia Economy Reporter Lim Chunhan] Lotte GRS announced on the 23rd that it has opened its 5th store in Laos, Vietnam.

In 2015, Lotte GRS signed a Master Franchise (MF) agreement with the Laos Sokxay Group. The 5th Lotte Ria store in Laos is located in the downtown commercial area on the main street of Luang Prabang, a city designated as a UNESCO World Heritage site in 1995, and the store has an area of 142㎡ (approximately 43 pyeong). Following the four stores located in the capital Vientiane, this is the first store opened in another city area, indicating the potential for expanding stores to other cities in the future.

The four Lotte Ria stores located in Vientiane, Laos, have shown about 18% growth compared to the previous year, and with the opening of the 5th store, Lotte GRS plans to expand its overseas business based on cooperation with the local MF partner company along with increasing local sales.

Lotte GRS currently operates about 270 Lotte Ria and Angel-in-us stores in Vietnam, and its sales in the first half of this year surpassed the 2019 performance before the COVID-19 pandemic. To expand its local business in Vietnam, Lotte GRS has been making aggressive investments and reorganizations, such as improving chicken menu items according to consumer culture, renovating aging stores, and expanding marketing investments.

A Lotte GRS official said, “Due to overseas travel restrictions caused by COVID-19, there were difficulties in seeking new MF entry countries and expanding the number of stores. We will enhance the status of K-franchise by expanding existing overseas stores in Vietnam local corporation, Myanmar, Cambodia, Kazakhstan, Laos, Mongolia, and by entering new countries.”

This content was produced with the assistance of AI translation services.