Address: 184 Ba Trieu Str., Hoan Kiem Dist., Hanoi
Tel: (84-4) 9439970
Fax: (84-4) 9438973
In 1997, foreseeing promising prospects of the Vietnamese economy, KFC (Kentucky Fried Chicken) decided to invest in the country. Commencing business with several outlets and some twenties of employees, to date, there are around 800 employees working for KFC family in Vietnam, franchises under KFC brand have been present over Ho Chi Minh City together with one outlet in Dong Nai and recently in Hanoi.
KFC sees a growth rate that is quite high and ceaselessly rises up. In 2004, the company revenue grew by 32 percent in comparison to the year 2003. In 2005, business performance of KFC Vietnam was very impressive when the company enjoyed an increase of 80 percent in their bottom line regardless challenges after the outbreak of the bird flu.
Especially, KFC Vietnam's revenue in the first two quarters of 2006 is double that in the same period of last year. "The Vietnamese economy has grown quickly by 8 percent per year. Vietnamís population has been estimated at over 83 million, of which 70 percent are young people. Consumers have been more sophisticated in choosing products. They have accepted and supported fast food concept. They are also more aware of food quality, food hygiene, appearance and the cleanliness of restaurants as well. The above-mentioned factors are the key reason of nonstop increase in KFC Vietnamís revenue. And this also makes Vietnam the most interesting market in the region in the eyes of foreign investors and fast food groups in particular," commented Mr. Pornchai Thuratum, the general director of KFC Vietnam.
The company has a strict quality policy. The input of material has been inspected severely. KFC never uses products of unknown resources. At the beginning when the Vietnamese market wasn't able to supply suitable material, KFC Vietnam was ready to import 100 percent of its material from overseas that costs more but quality has been guaranteed. At present, KFC buys 70 percent of raw material it needs from domestic sources and still has to import the remaining 30 percent. Provider of clean and safe chicken for KFC Vietnam is a highly experienced company in supplying clean chicken. The process of raising and slaughtering chicken conform to very high standards.
Vietnamís fast food market is very potential in comparison with mature markets in Singapore, Thailand and Malaysia. What's more, Vietnamese people are rather easy to change their eating habits and have gradually supporting fast food concept. They are more concerned about food safety and quality. It is possible to say that the market is in the early stage and have much room for KFC's activities