Fastest-growing pizza chain Dodo Pizza shuts down HCMC outlets

They are set to close on May 26 after four years of operation, the company said in a Facebook post, citing "various factors and a new strategic direction" as the reason for the closure.

It will have the one in Binh Phuoc Province, a southern province 120 kilometers from HCMC, left subsequently.

Dodo Pizza was called the "fastest-growing pizza chain in the world" in 2021 by U.S.-based food market researcher Technomic.

When it first came to the country, the chain considered Vietnam a market full of potential thanks to its burgeoning middle class.

It has over 1,300 outlets in 24 countries, and their revenues grew by 19% last year to US$1.2 billion.

It is seeking strategic partners, including national franchisees and multi-unit operators, in markets such as the Middle East, Africa, Asia, and South America.

Vietnam’s food and beverage sector, particularly the pizza market, is highly competitive, with numerous domestic and international brands vying for a share.

Leading players include Vietnam’s Pizza 4P’s, American chains Pizza Hut and Domino’s Pizza, Thailand’s The Pizza Company, and brands from the U.K., Italy and Australia.

The market was worth $780 million in 2024 and is projected to grow to $1.1 billion by 2033, representing annual growth of 3.8%, according to IMARC Group.

Demand for convenient, fast dining is growing among increasingly busy consumers while pizzas are finding a place on the menus of more and more restaurants and hotels.