The chain of fast food stores from Russia, Dodo pizza, has officially stopped all 4 branches on major roads in Binh Thanh, Go Vap, District 1 and District 7.
Despite withdrawing from the Ho Chi Minh City market, Dodo pizza Vietnam said it will still maintain its stores in Dong Xoai (Binh Phuoc province).
According to Mr. Nguyen Hoa Ngoc - CEO of Dodo pizza Vietnam, withdrawing from the city is not a failure - but a strategy.
"After nearly 5 years of presence in Ho Chi Minh City, we have decided to end our journey here. Not because we gave up, but because we chose another path - faster, more compact, more efficient. big cities are a dreamy place, but they are also a place that can easily make people blurred. fierce competition, high team costs. Sometimes, the most courageous thing is to dare to cut it down to reborn" - Mr. Nguyen Hoa Ngoc said.
Right from the first days of its presence in Vietnam, Ho Chi Minh City was chosen by Dodo pizza as the first market to open a store. In addition to pizza, the store also serves other quick dishes such as Italian noodles, fried chicken, French fries, etc.
Mr. Nguyen Ngoc Hoa - Chairman of the Ho Chi Minh City Business Association said that currently "the resilience of businesses is being eroded". The situation of businesses withdrawing from the market has increased gradually from 2022 to 2024, and in the first 4 months of this year alone, this figure is nearly half that of the whole of 2024.
This is not just a short-term phenomenon but has become a long-term trend. During the business process, the market always has screening. However, the continuous withdrawal of hundreds of thousands of businesses reflects the vitality and resilience to the market that is facing difficulties, said Mr. Hoa.
The withdrawal of major brands in Ho Chi Minh City is a typical example of the current challenges that businesses, especially F&B businesses, are facing.
