U.S. fast-food giant Domino’s Pizza will open this month in Phnom Penh, with three more outlets set to open this year, according to the managing director of the local firm partnering with the global chain.
In addition to the flagship store in Boeng Keng Kang I commune, which is currently under construction, the other three restaurants will also be situated in the capital, Kouch Sokly, managing director of CBM Corporation, said Monday.
Speaking after a press conference to officially launch the $1.5 million joint venture with Thai firm Evolution Capital, Mr. Sokly said the proliferation of major chains such as Burger King and KFC is testament to the changing tastes of young Cambodians who are exposed to international brands.
“For the older generation it’s hard for them to change their tastes, but for the younger generation, their eating culture has changed and a world of information is in their hands with smartphones,” he said.
Unfazed by the dominance of the pizza market by The Pizza Company and various smaller enterprises, Mr. Sokly said the established companies have paved the way for the arrival of Domino’s, rather than create stiff competition.
“The Pizza Company is an established and proven company. We can also see there are many standalone stalls in Phnom Penh so the market is quite big and it’s given us room to insert [into the Cambodian market],” he said, adding that Domino’s pizzas will be priced in line with their competitors.
Sanjay Singh, CEO of Evolution Capital, said the growth of Cambodia’s fast-food market meant it was an opportune time for Domino’s—which has more than 11,250 outlets around the world—to establish itself in Phnom Penh.
“The timing to serve Cambodians could not be better…. There aren’t many players in this [fast- food] market, but it is a growing market,” Mr. Singh said.
KFC currently has 12 outlets in the country, with plans to open a further four this year, while Burger King has three restaurants in Phnom Penh.