US-based Wingstop Restaurants, as part of an international expansion agreement with The Great Fundamentals, plans to open 30 franchise locations in Malaysia over the next six years. Malaysia will mark Wingstop’s ninth international market outside of the United States, stated the company.
The first restaurant is set to open in second half of 2017.
“We look forward to partnering with The Great Fundamentals in the development of these 30 new Wingstop locations,” said Larry Kruguer, president of international at Wingstop.
“Our success in Southeast Asia since first launching in late 2013, has generated over 30 locations across Indonesia, Philippines and Singapore, with great consumer reaction and buzz about the brand. Malaysians are passionate consumers of chicken, and this market will enhance our presence in the region," said Kruguer.
The Great Fundamentals spear is headed by Siswanto, managing partner. Prior to this, Siswanto led the AUM Hospitality group and helped grow local brands, such as The Library Coffee Bar, The South East and Ichiban-The Izakaya. The company stated that under his leadership, AUMH expanded with 70 outlets across 10 brands.
“We're honored to be a part of the Wingstop family as it is certainly one of the most exciting American restaurant brands to be introduced to Malaysia in recent memory,” said Siswanto. “We are confident that the Wingstop experience will resonate very well with Malaysians,” he added.
Malaysia has recently grown to become a hotbed of F&B chains with major restaurants ramping up their business. Recently Domino's Pizza announced its plans to open 300 outlets in Malaysia by 2020. QSR Brands announced plans to expand its KFC business with an additional 30 new outlets by the end of this year. Moreover, competitors over at McDonald’s Malaysia also plan on investing RM363 million into three year growth plan.