Specialist
Former Regional Head at Grab Holdings Inc
Agenda
- GrabKitchen’s scaling considerations in Vietnam
- Restaurant onboarding and cuisine portfolio expansion
- Vietnam cloud kitchen CAPEX and OPEX requirements
Questions
1.
GrabKitchen stated that, overall, the online food delivery market in Vietnam is expected to reach around USD 560m in turnover by 2024. How realistic do you think this is? How would you evaluate this figure over a timeline?
2.
How would you describe the correlation between the GrabFood delivery segment vs the GrabKitchen segment, perhaps by top line?
3.
What do you think is GrabKitchen’s penetration rate in HCMC [Ho Chi Minh City] and Hanoi?
4.
What do you think are the implications of this SPAC [special purpose acquisition company] on GrabKitchen’s expansion? How will this fare in the Vietnam market specifically?
5.
How should we think about Vietnam as a market positioned within Grab’s strategic priorities?
6.
Would you say Grab Cloud’s willingness to invest in kitchens in a specific region is a similar ranking to this list? Does that translate to wanting to invest in more kitchens in Singapore?
7.
How has average order value and monthly order frequency trended over the past 1-2 years? How big of a role would you say coronavirus played in Vietnam? It never exactly went into national lockdown, so would you say the spike in e-commerce and digital services growth did not manifest as clearly in Vietnam?
8.
How concentrated would you say revenue is among the top three brands for GrabKitchen?
9.
Was the market share shift very much apparent when Baemin shut down its Vietnam operations? Alternatively, were the users already using multiple apps at the same time, so it will still take longer to manifest than how the rest of the players who were able to grab the market share left by Baemin?
10.
How would you describe the restaurant portfolio expansion for Vietnam? Would you say it’s a similar process to Indonesia in discovering where the gaps are such as cuisine in a specific region and going from there?
11.
How would you characterise the restaurant onboarding process in Vietnam?
12.
GrabKitchen has around 14-15 merchant partners in Vietnam. How do you expect this to change in the next 1-2 years? If GrabKitchen set up a new kitchen, how many more merchant partners might it acquire?
13.
As you mentioned, perhaps after the GrabKitchen IPO, it might invest significantly more in building up more kitchens in Vietnam. Do you think it makes sense for it to continue to focus in HCMC over the next 12 months or would expanding to other cities make sense?
14.
What were the cuisine gaps you noticed in Vietnam, and what would you define as a gap GrabKitchen could expand into?
15.
What are the CAPEX and OPEX requirements in setting up a new kitchen? In high customer density areas, how would you say rents have trended over the past 1-2 years and as GrabKitchen expanded? Did you notice any economies of scale in negotiating new rent and securing new kitchens?
16.
How long does Grab typically lease for? Does that change over the years?
17.
Is the equipment set-up cost per station different in Vietnam or is it still the same as other locations?
18.
How would you describe monthly break-even GMV per kitchen, particularly in Vietnam, or are there any other challenges unique to Vietnam that you would highlight out of the Southeast Asia landscape?
Gain access to Premium Content
Submit your details to access up to 5 Forum Transcripts or to request a complimentary 48 hour week trial
The information, material and content contained in this transcript (“Content”) is for information purposes only and does not constitute advice of any type or a trade recommendation and should not form the basis of any investment decision.This transcript has been edited by Third Bridge for ease of reading. Third Bridge Group Limited and its affiliates (together “Third Bridge”) make no representation and accept no liability for the Contentor for any errors, omissions or inaccuracies in respect of it. The views of the specialist expressed in the Content are those of the specialist and they are not endorsed by, nor do they represent the opinion of, Third Bridge. Third Bridge reserves all copyright, intellectual and other property rights in the Content. Any modification, reformatting, copying, displaying, distributing, transmitting, publishing, licensing, creating derivative works from, transferring or selling any Content is strictly prohibited
