Oporto’s international growth hits Vietnam
Oporto‘s international growth has been bolstered with the iconic franchise unveiling blockbuster plans to open 24 restaurants across Vietnam in the next 10 years.
The latest Oporto Vietnam announcement comes after the chain secured a master franchise agreement with local partner Ben Thanh Group. The brand’s first store will open in the prime location of District 1, Ho Chi Minh city on July 17.
Operator Nguyen Tuan Tu said he was inspired to bring the brand to Vietnam after seeing Oporto’s success first-hand. The new master franchisee has been an avid Oporto fan since travelling to Australia to complete his studies, before returning to his homeland.
“I completed my VCE and Bachelor of Business Marketing in Melbourne and I feel a strong connection with Australian culture and people,” Tu said.
“I was a great fan of Oporto as a University student and when I think of Australia I think of Oporto. When I heard that Oporto were expanding internationally through Asia, I knew this was the business I’d been waiting for.”
Oporto’s international growth
The latest announcement solidifies Oporto’s international growth strategy and follows a string of global signings. Three international master agreements have been secured in the last 14 months, with Oporto Vietnam following Singapore and Sri Lanka.
Driving Oporto’s international growth, is a rising demand for chicken products in Asia. Tu said Oporto’s brand offering fits perfectly within the Vietnamese food landscape, thanks to its mix of spice, vibrance and passion.
“The flavour profile was right for our market. There is a rising demand (and consumption) for chicken across Vietnam and Oporto is complementary to the businesses within our portfolio,” Tu said.
Craig Tozer, Oporto CEO agreed, revealing the Vietnamese expansion provided a further gateway to a new market of potential consumers.
“Vietnam is an ideal market for Oporto with nearly 100 million people and more than 60 per cent in our core demographic of under 35,” Tozer said.
“Vietnam is experiencing double digit growth in the retail and consumer sector and GDP has steadily grown at over 6 per cent. Consumers are urbanising and have an appreciation of quality food.”
Tozer said partnering with a master franchisee who was not only experienced in the region, but an advocate of the brand had simplified the newest stage in Oporto’s international growth strategy.
“We are truly excited to be working with Ben Thanh Group who have a distinguished history of operating businesses in the country and we are delighted to be launching Oporto into this dynamic and growing market with them,” Tozer said.
Oporto global growth
Back home, Oporto is also forecasting an additional 20 plus restaurant openings in Australia for FY20, along with one in Vietnam, a second store in Singapore and further Asian expansion.
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