Burger chain Lotteria to open 1st outlet in Malaysia this year
Shin Yoo-yeol, third from left, executive vice president of the Future Strategy Office at Lotte, and Serai Group Chairman Najib Hamid, fourth left, pose with other officials after signing a partnership agreement for the launch of Lotte GRS' Lotteria burger chain in Malaysia at the Lotte World Tower in Songpa District, Seoul, Wednesday. Courtesy of Lotte GRS
Lotteria, the burger chain operated by Lotte Group affiliate Lotte GRS, will open its first outlet in Malaysia later this year as part of its overseas expansion strategy, the company said Wednesday.
Lotte GRS has signed a master franchise agreement with local retailer Serai Group to launch the brand in the Southeast Asian country.
Under the agreement, the franchisee is granted the rights not only to open and operate outlets in the designated territory but also to sub-franchise those rights to third parties.
Lotte GRS said it plans to open the first outlet within this year and open 30 Lotteria burger chains in Malaysia over the next five years.
Separately, the company plans to open its first U.S. outlet this month in Orange County, California, a company spokesperson said.
Lotte GRS currently operates around 1,000 outlets in Korea and 320 stores overseas, including 258 in Vietnam, 50 in Myanmar, six in Laos and six in Mongolia.