Burger chain Lotteria opens 1st Malaysia outlet
This photo shows Lotte GRS Chief Executive Officer (CEO) Lee Won-taek, third from right, and Serai Group Director Najib Hamid, fourth from right, posing for a photo during the opening ceremony of Lotteria's first outlet in Malaysia, Dec. 5. Yonhap
Lotteria, the burger chain operated by Lotte Group affiliate Lotte GRS, said Monday it has opened its first outlet in Malaysia as part of its overseas expansion strategy.
In August, Lotte GRS signed a master franchise agreement with local retailer Serai Group to introduce the brand to the Southeast Asian nation.
Under the agreement, the franchisee is authorized not only to open and operate outlets in the designated territory but also to sub-franchise those rights to third parties.
Following the launch of the first store, Lotte GRS said it plans to open 30 Lotteria outlets in Malaysia over the next five years.
The company also plans to open its first outlet in Singapore next year to accelerate its expansion in Asian markets.
Lotte GRS currently operates about 1,300 outlets in Korea and 320 overseas stores in Vietnam, Myanmar, Laos, Malaysia, Mongolia and the United States. It opened its first U.S. outlet in Orange County, California, in August.
"We will focus on growing into a global K-franchise company by exploring new markets in Southeast Asia and ensuring stable operations of our first U.S. outlet," a company official said.