Smoothie King Vietnam expansion plan
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South Korea’s Shinsegae Group is to buy the Korean network of 105 Smoothie King stores and launch the brand into Vietnam.
Smoothie King Vietnam will initially be focused on the Ho Chi Minh City and Hanoi markets.
Based in the southern US city of New Orleans, Smoothie King produces and markets smoothies, juices, sports drinks, energy bars, vitamins and health supplements. It currently boasts more than 700 locations worldwide and is targeting 1000 by the end of 2017.
The Vietnam news follows an announced expansion into the Middle East earlier this year, commencing in Dubai.
“This deal is monumental for Smoothie King – and one that we thought long and hard about. I was the master franchisee in Korea and bought the brand in 2012, making growth a primary goal for the company,” said Smoothie King CEO Wan Kim.
Questions & Answers
Q.Which company is responsible for bringing the Smoothie King brand to Vietnam?
Which company is responsible for bringing the Smoothie King brand to Vietnam?
South Korea’s Shinsegae Group is set to launch Smoothie King in Vietnam. This follows their purchase of the Korean network of 105 Smoothie King stores, preparing for the brand's expansion into new markets.
Q.What is Smoothie King's current global presence and their future growth target?
What is Smoothie King's current global presence and their future growth target?
Smoothie King currently operates over 700 locations worldwide. The company has an ambitious target to reach 1000 locations globally by the close of 2017, demonstrating significant planned expansion.
Q.Which specific cities in Vietnam will Smoothie King initially focus on?
Which specific cities in Vietnam will Smoothie King initially focus on?
Smoothie King Vietnam will initially concentrate its efforts on two major urban centres. The brand's early expansion will be specifically focused on the Ho Chi Minh City and Hanoi markets.
Q.Who is the CEO of Smoothie King and when did he acquire the brand?
Who is the CEO of Smoothie King and when did he acquire the brand?
The CEO of Smoothie King is Wan Kim. He acquired the brand in 2012, having previously been the master franchisee in Korea, with growth becoming a primary objective for the company under his leadership.
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