Jumbo Group signs deal for Vietnam
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Singapore seafood restaurant company Jumbo Group has signed a franchise agreement to introduce its brand in Vietnam.
Known for its chili crab, the F&B chain has granted franchise rights to Vietnam’s Nova Bac Nam 79 Joint Stock Company for it to run Jumbo Seafood restaurants in Ho Chi Minh City and Da Nang.
Vietnam’s first Jumbo Seafood outlet is expected to open in Ho Chi Minh City in about six months’ time.
The agreement is for an initial term of 10 years, and it is expected that three Jumbo Seafood outlets will be opened within two years.
Jumbo Group is a multi-concept dining and F&B group with a network spanning Singapore, China and Japan. It also provides catering services, and in Singapore sells packaged sauces and spice mixes. It has three outlets in Shanghai, with three more planned, and in November reported a full-year profit increase of 17.9 per cent.
Questions & Answers
Q.Which company will operate the Jumbo Seafood restaurants in Vietnam?
Which company will operate the Jumbo Seafood restaurants in Vietnam?
Vietnam’s Nova Bac Nam 79 Joint Stock Company has been granted the franchise rights to run the Jumbo Seafood restaurants in Ho Chi Minh City and Da Nang.
Q.How many Jumbo Seafood outlets are planned for Vietnam initially and over what period?
How many Jumbo Seafood outlets are planned for Vietnam initially and over what period?
The agreement expects three Jumbo Seafood outlets to open within two years. The very first outlet is projected to open in Ho Chi Minh City in approximately six months.
Q.What is the initial duration of the franchise agreement for Jumbo Group in Vietnam?
What is the initial duration of the franchise agreement for Jumbo Group in Vietnam?
The franchise agreement between Jumbo Group and Nova Bac Nam 79 Joint Stock Company is set for an initial term of 10 years, allowing for the long-term establishment of the brand.