KFC and Lotteria are popular, but blame high overhead costs for their millions of dollars in losses over the past few years , Photo: Dung Minh Giants report business losses Active in Vietnam since the 1990s with a 26-per-cent annual growth rate, KFC has expanded its scale to 140 stores across the country and holds 60 per cent of Vietnam’s fried chicken market. Lotteria, entering the country since 2004, has also quickly cemented its position holding 60-70 per cent of the hamburger and sandwich market with 220 stores nationwide. Taking advantage of being fast food pioneers and offering acceptable priced dishes, good service, and clean spaces, KFC and Lotteria have continued to hold their positions in the market, despite new players, including McDonald’s, Jollibee, and Burger King, all competing for customers. The latest financial reports of KFC and Lotteria recorded revenues of trillions of VND. KFC in 2015 and 2016 reached an average revenue of VND1.2 trillion ($53.1 million) per year with a 10-per-cent gross margin. Lotteria achieved revenues of VND1.46 trillion ($64.6 million) and VND1.3 trillion ($57.52 million) in 2015 and 2016, respectively, with a gross margin of nearly 60 per cent. According to a 2016 Euromonitor report, the… Read full this story
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