Korean fried chicken is coming to Thailand courtesy of Fico Group.
Tasty treat for (from left) Kyochon F&B managing director Harry Song, Evolution Capital chief executive Sanjay Singh, a wax model of Korean pop star Choi Si-won of boy band Super Junior, and Evolution Capital director Simon Gerovich. PORNPROM SARTTARBHAYA
Subsidiary Evolution Capital Group has formed a joint venture with South Korea's Kyochon F&B Co to operate the popular chicken restaurant chain here.
Kyochon Thailand Co has a budget of 60 million baht to open 15 outlets next year. It will also expand the chain with a franchise format.
Evolution Capital chief executive Sanjay Singh said fast food business in Thailand is huge with annual sales of more than 25 billion baht, of which 40% is from fried chicken.
He said there is plenty of room for new players and he is confident the Asian taste will differentiate Kyochon from the fried chicken produced by international brands.
Two Kyochon outlets already operate in Bangkok at Korean Town on Sukhumvit Soi 12 and at Fashion Island shopping centre. They have been operated by franchisees but will be controlled by Kyochon Thailand.
To promote the brand in Thailand, the company will follow Kyochon's marketing strategies in Korea by having K-pop boy band Super Junior to boost sales.
It will expand outlets by using the networks of Fico Group, which operates property, hotels and offices.
The group is owned by the Srichawla family, which also manages and operates high-profile food and beverage outlets.