Ringer Hut opening in Philippines launch
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Japanese fast-food chain Ringer Hut is preparing to launch in the Philippines.
The Tokyo-based firm will open a joint venture with local partners, taking a 40 per cent stake in the new business.
The company had previously indicated that legal advice showed the partnership could proceed if the equivalent of US$2.5 million minimum was invested.
Ringer Hut currently operates 600 stores in Japan, and has 16 stores in five other Asian countries, including Hong Kong, and in the US. It is also preparing to open in Vietnam. The chain’s stated goal is to run 50 international stores by 2020.
Questions & Answers
Q.What is Ringer Hut's current international presence?
What is Ringer Hut's current international presence?
Ringer Hut currently operates 16 stores across five other Asian countries, such as Hong Kong, and in the US. The chain also has 600 stores in its home country, Japan.
Q.What is the minimum investment required for the joint venture in the Philippines?
What is the minimum investment required for the joint venture in the Philippines?
The partnership in the Philippines requires a minimum investment equivalent to US$2.5 million. This figure was indicated by legal advice sought by Ringer Hut before proceeding with the venture.
Q.What is Ringer Hut's target for international store numbers?
What is Ringer Hut's target for international store numbers?
Ringer Hut aims to operate 50 international stores by the year 2020. They are also preparing for an upcoming launch in Vietnam as part of this expansion goal.
Q.What stake will Ringer Hut hold in the new Philippines business?
What stake will Ringer Hut hold in the new Philippines business?
Ringer Hut will hold a 40 per cent stake in the new joint venture established in the Philippines. They are partnering with local firms for this launch.
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