S Korea’s fast food chain Lotteria Vietnam incurs biggest annual loss since 2022

Fast food chain Lotteria Vietnam, a subsidiary of South Korea’s Lotte Group, reported a net loss of KRW6.9 billion ($4.14 million) in 2024, marking its largest annual loss since 2022.

This figure represents a 23% increase compared to the 2023 loss of KRW5.62 billion ($3.37 million), according to Lotte’s annual earnings report.

As a result, Vietnam Lotteria Co.,Ltd, the operator of the biggest fried chicken and fast food chain in Vietnam, posted losses for the second consecutive year.

Since it began publicly reporting earnings in 2018, Lotteria has only turned a profit once in Vietnam – in 2022 – with a net profit of KRW2.29 billion ($1.37 million).

Lotteria entered the Vietnamese market in 1998 and currently operates nearly 250 outlets across 52 provinces and cities nationwide. To supply ingredients and food for its restaurant chain, Lotte has established two factories in Long An and Binh Duong provinces, both located in southern Vietnam.

Lotte, South Korea’s fifth-largest conglomerate, first entered Vietnam in 1996. In 2018, the group reported $6.7 billion in revenue from its operations in the country. With nearly $5 billion in total investment, Vietnam has become Lotte’s third-largest market, following South Korea and Japan.