Wallace fast-food chain expands from China into Vietnam

Wallace, a Chinese fast-food chain originating from Fujian, is expanding its presence in Vietnam and other Southeast Asian markets. Founded in 2001 by brothers Hua Huaiyu and Hua Huaiqing, the company has grown to operate over 20,000 locations in China.

After initially struggling with pricing models similar to Western competitors like KFC and McDonald's, Wallace pivoted to a low-cost strategy targeting budget-conscious consumers. The chain utilizes a partnership investment model, allowing employees and partners to co-invest in individual locations, which has facilitated rapid expansion.

Since 2023, Wallace has been expanding into Southeast Asia, including Thailand, Malaysia, Indonesia, and the Philippines. In Vietnam, the brand has already established a presence, with 26 stores reported in the northern region alone.