With more than 180 stores, three famous pizza chains in Vietnam achieved double-digit growth last year with total sales of more than 83 million USD. Stitch Hug Pizza papa John shirt, hoodie, tank top, sweater
Stitch Hug Pizza papa John shirt, hoodie, tank top, sweater
Pizza Hut chain of US stores led the revenue with 749 billion dong (32.2 million USD), up 22% over the same period last year; followed by Thailand-based The Pizza Company, which surpassed VND 600 billion in sales last year, up 24%; and Vietnam’s Pizza 4Ps with 568 billion VND, up 38%.
As one of the earliest established pizza chains in Vietnam, Pizza Hut has the advantage of being a pioneer in the market and has been operating for 14 years with more than 90 stores nationwide.
But when new players entered the market, its growth fell below 20% annually between 2015-2018; even down to 6 percent in 2017-2018.
The second position The Pizza Company has rapidly expanded in Vietnam since 2013, the number of stores second only to Pizza Hut with more than 70 stores nationwide. It only took the Stitch Hug Pizza papa John shirt, hoodie, tank top, sweater company 6 years to surpass the 600 billion dong revenue mark, while Pizza Hut took 12 years to reach the same figure.
Although ranked third with only 20 stores, but last year’s Pizza 4Ps revenue was only 8% less than The Pizza Company.
This is also the only company among the three companies with a profit of over VND 50 billion in the past two years. Pizza Hut has reported losses in the past three of the Stitch Hug Pizza papa John shirt, hoodie, tank top, sweater past four years while The Pizza Company has done so for three consecutive years.
Euromonitor International, a London-based strategic market analyst, estimates Vietnam’s pizza market value to be $ 120 million in 2017.
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