Max’s Group’s Sizzlin’ Steak brand to enter Vietnam

MANILA, Sept. 4 (PNA) — Listed casual dining firm Max’s Group, Inc. (MGI) is set to make maiden entry of its homegrown brand, Sizzlin’ Steak, into Vietnam.

MGI recently signed a development agreement with L Concepts Limited (L Concepts) to build a minimum of 10 Sizzlin’ Steak stores in Vietnam within the next five years. The brand serves premium quality meals on a hot plate system.

“We are thrilled in this partnership with L Concepts given their strong credentials and long history of success. We are excited to introduce our sizzling offerings to the Vietnamese market,” said Max’s Group President and Chief Executive Officer Robert F. Trota.

L Concepts, a wholly owned subsidiary of The Longfort Group, currently operates a collection of leading restaurant brands, franchises and lifestyle concepts across the premium casual and fast casual dining segments.

“Our overseas expansion continues to gain more ground. We envision to roll out our key brands outside the Philippines with strategic franchise operators. As new markets are established and momentum builds in the next few years, we expect the international portion of our business to be a significant contributor to system-wide sales and to our bottom line,” Trota added.

This marks the third development agreement inked by MGI for 2015. Previous signings include 15 Yellow Cab restaurants within 10 years in Saudi Arabia as well as another 10 Yellow Cab branches within five years in United Arab Emirates.

The company expects to further augment its vast store network by at least 200 outlets from the international front by 2020.

Sizzlin’ Steak currently operates 10 branches in Metro Manila. Plans are likewise underway to establish a pilot store in the United States. (PNA)