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Singapore firm to operate Ippudo restaurants in Myanmar
MAINBOARD-LISTED Singapore Myanmar Investco (SMI) announced on Thursday it has obtained licence from Chikaranomoto Holdings Co, the operator of Ippudo ramen restaurants, to operate and manage Ippudo restaurants in Myanmar, with the first outlet set to open in the first quarter of 2017.
Under the agreement, Chikaranomoto will provide training and support to SMI to facilitate the establishment and operation of these restaurants in Myanmar.
Founded in 1985, Ippudo has more than 90 outlets in Japan and over 60 worldwide, including seven in Singapore.
SMI president and chief executive Mark Bedingham said: "We see abundant growth opportunities within the F&B retail market in Myanmar and the time is ripe for us to introduce the popular Ippudo brand and cuisine to a growing middle class in Myanmar."
SMI plans to open more Ippudo restaurants in major cities across Myanmar over the next few years.