HCM CITY — Packaged food producer KIDO Group has announced it is setting up the Chuk Chuk brand of cafes with a total investment of VNĐ100 billion (US$4.4 million).
KIDO will invest 61 per cent. The investment would be increased to expand over the years, it said.
With 1,000 stores opened by 2025, it said Chuk Chuk would become a leading brand.
The company’s general director, Trần Lệ Nguyên, said the first market would be HCM City. Stores in Hà Nội and some northern provinces would open by September if the pandemic is controlled by then. By 2025 the chain would be present across the country, he said.
There would be collaboration with foreign partners to take the brand abroad, he said.
He also informed that the first year would be the development time and franchise would soon start after that.
Chuk Chuk will take advantage of KIDO’s confectionery products like ice cream, coffee, tea, bubble tea, and cake.
The development of Chuk Chuk is a part of KIDO Group’s plan of diversifying business segments, becoming the biggest food producers in the country.
Food and beverage is a promising market that has grown at 9 per cent this year. — VNS
