Master Franchise Agreement Signed with Local F&B Company Katrina Group
First Lotteria Store in Singapore Set to Open in February Next Year
On August 26, Lotte GRS announced that it has signed a master franchise agreement with Singaporean food and beverage (F&B) group Katrina Group to accelerate the global expansion strategy of K-Burger.
(From left) Lee Kwonhyung, Executive Director of Lotte GRS Global Business Division; Shin Youl, Vice President and Head of Future Growth Office at Lotte Holdings; Cha Woochul, CEO of Lotte GRS; and Alan Go, CEO of Katrina Group, and Crystal Go, Director, are posing for a commemorative photo after signing the master franchise agreement at Lotte World Tower on the 25th. Provided by Lotte GRS
Katrina Group operates F&B and hospitality businesses in Singapore, running multiple restaurant brands and hotel accommodations. Lotte GRS explained that Katrina Group has a high level of expertise in the restaurant business.
Through the master franchise agreement with Katrina Group, Lotte GRS plans to open the first Lotteria store in Singapore in February next year, following its expansion into Vietnam, Myanmar, Laos, Mongolia, and Malaysia. The company aims to establish a stable presence in the Singaporean market by leveraging the unique competitiveness of Lotteria’s K-Burger and the operational capabilities of its local partner.
Cha Woochul, CEO of Lotte GRS, stated, "Singapore is the hub of the Asian dining market, and this entry will further strengthen Lotteria's status as a global brand. Through our collaboration with Katrina Group, we will deliver Lotteria’s unique taste and quality to Singaporean consumers."
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