SINGAPORE - Home-grown restaurant chain Jumbo Group will be expanding to Vietnam in 2017.
The restaurant group announced on Tuesday (Jan 3) that it has inked a franchise agreement with Vietnam's Nova Bac Nam 79 Joint Stock Company to operate Jumbo Seafood restaurants in Ho Chi Minh City and Danang in Vietnam.
The first Jumbo Seafood restaurant in Vietnam is expected to open in Ho Chi Minh City in the middle of 2017, and there are also plans to open two other outlets, in Ho Chi Minh City and Danang, over the next two years.
Mr Ang Kiam Meng, Jumbo Group's CEO and executive chairman, said: "We aim to tap the potential demand for our quality Singapore seafood cuisine in the Vietnamese consumer market with our franchise partner."
He adds that this marks the publicly listed restaurant group's first franchise agreement, which is aligned with its plans to "diversify and grow its business offerings and geographic markets".
Jumbo Seafood is a 30-year-old restaurant chain that is known for serving chilli crabs. The Jumbo Group owns five Jumbo Seafood outlets here, including at Riverside Point and Dempsey Hill, and three outlets in Shanghai, China.
The group also owns other eateries here, including Ng Ah Sio Bak Kut Teh, which opened its sixth outlet, located in Ngee Ann City, on Wednesday.