Key takeaways on GrabKitchen’s cloud kitchens in Vietnam and Southeast Asia
To explain the correlation between market shares for GrabFood, the delivery segment, and GrabKitchen, the cloud kitchen offering, the specialist used Indonesia as an example. “When we had started in Indonesia, the market share for GrabKitchen within Grab… was close to about 3-4%, but eventually, what we are looking at is, in the post-COVID era, we’ve seen this market share within Grab… go up to somewhere close to about 15-18%.”
And the overall industry is poised for further growth within Vietnam. “I would safely place my bet on [cloud] kitchens contributing close to about USD 50m-60m per year, let’s say, in the next 3-4 years, easy.”
The conversation moved on to how Vietnam as a market sits within Grab’s strategic priorities. Although it may not be one of the top-ranking targets for Grab – which instead are Singapore and Indonesia – “Vietnam is quite important in terms of population and… one of the fastest-growing countries in Southeast Asia, so definitely there’s a huge amount of interest for any company to be there.”
Other topics on the agenda were CAPEX and OPEX, as well as the process for onboarding new merchants and whether GrabKitchen would expand beyond Ho Chi Minh City.
To access all the human insights from Third Bridge Forum’s Grab cloud kitchen in Vietnam – growth drivers & scaling strategies Interview, click here to view the full transcript.
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