HCMC – Three Vietnamese businesses, namely Pho’S, Phuc Tea milk tea, and Care With Love spa, have clinched franchise agreements with their partners in the Philippines.
During the launch event of the Go Global Franchise Fund (GGFF) on November 2, a representative from Go Global Holdings said that this marks the first occasion when three out of the nine businesses within the Go Global Holdings ecosystem have successfully expanded their franchises into the Philippines.
Among them, the spa brand Care With Love and milk tea brand Phuc Tea have signed master franchise contracts with their partners. The first Care With Love store in the Philippines is expected to open within the next two months.
Meanwhile, the franchise partners of the Phuc Tea brand plan to open around 20 stores in Manila by 2024.
Pho’S will establish its first three points of sale in the Philippines and enhance the franchise contract following the successful operation of these branches. The first franchised store is slated to open in the first quarter of 2024.
In addition to the Philippines, these three businesses are currently in negotiations for franchise collaborations in the Indonesian and Malaysian markets.
Go Global Holdings also announced the launch of the Go Global Franchise Fund (GGFF), an investment fund exclusively dedicated to startups and small to medium-sized businesses in the franchising and licensing sector in the Vietnamese market and the Southeast Asian region.
