Pizza 4P’s Case Study: How Vietnam Is Becoming a Launchpad for Global F&B Brands

Pizza 4P’s, a popular dining brand from Vietnam, is set to make its mark in the US with its first restaurant opening in Brooklyn, New York. This expansion signifies not only the brand’s growth beyond Asia, where it has successfully entered markets like India and Indonesia, but also highlights Vietnam’s potential as a launchpad for global F&B brands aiming for international success.

Pizza 4P’s, one of Vietnam’s most beloved dining brands, has announced plans to open its first restaurant in Brooklyn, New York, marking a major milestone in its global growth journey. Founded in 2011 in Ho Chi Minh City (HCMC) by a Japanese couple, Pizza 4P’s has become renowned for its creative fusion-style pizzas that blend Japanese craftsmanship with Italian tradition, reshaping how Vietnamese diners experience pizza.

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This expansion into the US is not the company’s first step beyond Vietnam. Over the past decade, Pizza 4P’s has steadily expanded across Asia, opening outlets in India, Cambodia, the Philippines, and Indonesia. Today, the company has over 40 restaurants across Asia. Beyond pizza restaurants, Pizza 4P’s also manages three Ippudo ramen outlets, About Life Coffee Brewers, and Cafe 4P’s.

While the presence of a pizza brand in Western markets is nothing new, the arrival of Pizza 4P’s, a foreign-founded brand born in Vietnam, in the US carries a unique significance. It represents an interesting market-expansion story: a brand that began in an emerging market, successfully adapted to Asian tastes where pizza was once unfamiliar, and is now venturing into one of the world’s most competitive culinary landscapes.

This article explores how Vietnam has become a launchpad for Pizza 4P’s regional success and draws insights for other F&B brands seeking to scale internationally.

See also: Foreign Food Chains Thrive in Vietnam’s Growing F&B Market

Expanding foodservice market

According to Modor Intelligence, Vietnam’s foodservice market is valued at US$24.77 billion in 2025. The country is ranked as the fourth-largest in Southeast Asia. The market is projected to grow to US$41.22 billion by 2030, reflecting a strong CAGR of 10.72 percent. While independent F&B outlets continue to dominate, accounting for 92.7 percent of total revenue, the chain restaurant segment is expanding rapidly, increasing its share from 5.2 percent in 2023 to 7.3 percent in 2025.

This trend signals a gradual shift in consumer behavior toward well-established brands that offer consistent quality and standardized experiences, highlighting the growing professionalization of Vietnam’s F&B industry.

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A key growth driver lies in Vietnam’s demographic expansion and rising disposable income among its working population. In 2024, the labor force aged 15 and above reached 53.0 million people, up by 575,400 from 2023, providing a solid foundation for sustained foodservice demand.

Moreover, Vietnamese consumers have a strong habit of eating out, with little differentiation across regions or times of day. This suggests that dining out is viewed less as a luxury and more as a daily necessity, especially in major cities where urban lifestyles, long working hours, and commuting patterns encourage convenience.

Further growth momentum comes from the rebound of international tourists, driving F&B consumption in major destinations, and the rapid rise of online food delivery platforms. Recently, the government’s strategic implementation of VAT has provided essential financial relief to foodservice operators grappling with increased input costs.

Affordable operation cost: A testbed for innovation

According to the founder of Pizza 4P’s, prior to entering a new market, the company conducts a comprehensive city ranking study to evaluate potential locations based on key factors such as operational costs, market size, and competitive landscape. HCMC emerged as the top-ranked destination, followed by Hanoi, Manila, and Jakarta.

Labor cost

Vietnam’s labor cost remains among the most competitive in Southeast Asia, despite a steady annual increase of around 8–10 percent. The country offers a large, young, and trainable workforce, particularly in the hospitality and service sectors, which supports the scalability of restaurant and retail operations.

Retail rent

Retail rental rates in Vietnam are also relatively competitive compared to other prime retail markets in the region. JLL recorded that both HCMC and Hanoi continue to experience low vacancy rates, approximately 3.5 percent and 7 percent, respectively, reflecting increasing demand and limited availability of retail space.

In Q2 2025, Vietnam has witnessed growing interest from high-end and international F&B brands, with notable new leases signed by Starbucks Reserve, TWG Tea, and other upscale cafe and dining concepts.

Embracing “Oneness” in Vietnam

Beyond affordable operational costs and a strong dine-out culture, Pizza 4P’s has successfully won over Vietnamese food lovers by deeply understanding its customers through its “Oneness” philosophy. Embraced by its two Japanese founders, this concept emphasizes the interconnectedness of people, emotions, and food, shaping how the brand approaches both its cuisine and customer experience.

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Through this lens, Pizza 4P’s resonates deeply with Vietnam’s discerning diners, who are increasingly mindful of their dining-out choices and value high-quality ingredients and authentic taste for the money they spend.

More than just a fusion pizza restaurant, Pizza 4P’s distinguishes itself as a brand that prioritizes quality, craftsmanship, and experience, backed by significant investments in technology and product innovation to ensure every slice of pizza is thoughtfully attuned to the Vietnamese palate.

One of Pizza 4P’s most notable initiatives is its fresh cheese factory in Da Lat, established in 2011 to produce in-house burrata and mozzarella instead of relying on imports. The factory handcrafts about 1,500 – 2,000 burrata and 2,000 – 3,000 mozzarella balls daily, which are delivered within 24 hours to its restaurants in HCMC, Hanoi, Nha Trang, and Da Nang to maintain peak freshness. By 2024, roughly 59 percent of Pizza 4P’s ingredients were sourced locally, reflecting its strong integration with Vietnam’s local ecosystem.

In addition, the company invests heavily in technology and feedback systems that enable it to swiftly adapt recipes to local tastes, promptly identify and resolve quality issues, and continuously enhance not only the customer dining experience but also its cooking processes, operations, and delivery performance.

Right place, right market

The first Pizza 4P’s restaurant opened on Le Thanh Ton Street in HCMC, with an initial investment of around US$50,000. Strategically located in the heart of the city, the restaurant was easily accessible to both locals and tourists. The area is also famously known as the Japanese Quarter, which is home to many authentic Japanese restaurants and attracts a diverse mix of local professionals and expatriates. Its prime location, coupled with high-quality ingredients and a cozy dining experience, quickly made it a go-to destination for food lovers in the city.

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Seamlessly Manage Your Operations Across Multiple Asian Markets

Pizza 4P’s has since continued to select strategic locations across Vietnam, focusing on:

• High-end residential areas with large expatriate communities;
• Central business and financial districts; and
• Modern shopping malls catering to young, middle-class families and professionals.

These areas not only serve dining needs but also provide a holistic lifestyle experience, combining food, shopping, and family entertainment, which helps restaurants like Pizza 4P’s attract weekend diners seeking both relaxation and social connection.

Other key locations where Pizza 4P’s has established its footprint include:

Conclusion

The remarkable growth of Pizza 4P’s underscores Vietnam’s potential as a testbed for innovative F&B business models, driven by a rapidly expanding market, affordable operational costs, and a growing consumer base. Yet, while Vietnam offers vast opportunities, its F&B sector also faces uncertainties in line with global trends, including rising costs, shifting consumer spending, and increasing competition from new entrants to Vietnam.

To succeed, companies should conduct comprehensive feasibility studies to identify strategic locations, understand evolving local tastes, and adapt to the expectations of increasingly discerning diners.

Pizza 4P’s is by no means the only Vietnamese F&B success story abroad. In recent years, several local brands, including Cong Ca Phe, Phuc Long, and Pho Thin, have expanded overseas, showcasing the growing maturity and global ambition of Vietnam’s culinary industry. Collectively, these brands demonstrate that Vietnam is no longer merely a consumer market, but a launchpad for regional and international F&B innovation.

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