Lotteria opens 1st outlet in Yangon

Participants applaud during the opening ceremony of the first Lotteria store in Yanggon, April 27. / Courtesy of Lotteria

By Shim Jae-yun

Lotteria opened its first store in Yangon, Myanmar, on April 27, marking the first time for a Korean food service company to operate there.

The branch has an area of 268 square meters in ‘Junction Square,’ the largest shopping mall in Myanmar. It also has plans to open 30 more in the capital city by the year 2016.

Toward that end, it is poised to set up three road shops, six in shopping malls and one drive-thru by the end of this year.

The opening of the new facility is a meaningful first step towards the Lotte Group’s quest to make inroads into Myanmar. The country has emerged as a new promising market following the military government’s democratic reforms initiated in 2012.

Lotte Group Chairman Shin Dong-bin visited Myanmar in February last year and Lotteria signed a memorandum of understanding (MOU) with the Myko food service company in August, to lay the groundwork for its advance into the Southeast Asian nation.

Lotteria CEO Roh Il-sik said, “Lotteria is equipped with rich expertise in food services alongside successful performances in overseas markets such as Vietnam and Indonesia. Based on such knowhow and experience, we believe we will be successful in Myanmar at an early date.” He also reiterated the commitment of the company to appeal to the taste of local clients.

Among the high profiled figures in attendance at the opening ceremony were Yangon City Mayor U Hla Myint and U Aik Tun, chairman of Shwe Taung Development (STD) Group.

Lotteria is now operating a total of 175 stores in overseas markets since it first set up an overseas outlet in Vietnam in 1998. The break down includes 141 in Vietnam, 19 in Indonesia and 14 in China.

The stores in Vietnam have registered an annual average growth rate of more than 40 percent over the past three years, leading the so-called K-food boom as part of hallyu (the Korean wave).