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NEW YORK - Shake Shack Inc. (NYSE:SHAK), the fast-casual restaurant chain currently valued at $4.53 billion, announced Tuesday plans to expand into Vietnam through its existing partnership with Maxim’s Caterers Limited, with the first location scheduled to open in 2026. According to InvestingPro data, the company has maintained strong growth momentum with revenue increasing by 13.13% over the last twelve months.
The companies plan to establish 15 Shake Shack restaurants across Vietnam by 2035, according to a press release statement. This expansion marks Shake Shack’s entry into another Asian market, adding to its international presence in countries including China, Hong Kong, Singapore, and Thailand. The expansion aligns with the company’s growth trajectory, with InvestingPro analysts expecting increased net income this year.
Maxim’s Caterers, which currently operates 52 Shake Shack locations across Mainland China, Hong Kong, Macau, and Thailand, will serve as the licensee for the Vietnam expansion.
"Expanding into Vietnam is an exciting leap forward for Shake Shack," said Michael Kark, President of Global Licensing at Shake Shack. "We’re planting roots in one of Asia’s most vibrant, food-loving cultures."
Michael Wu, Chairman & Managing Director of Maxim’s, noted that the companies have "established a successful long-time partnership" and are "eager to deepen the relationship in Vietnam."
The Vietnam locations will feature Shake Shack’s core menu items, including the ShackBurger, Chicken Shack, crinkle-cut fries, and frozen custard. The company also plans to incorporate local elements by partnering with Vietnamese producers and artists.
Shake Shack currently operates more than 610 locations globally, with over 390 in the United States and more than 210 international locations across major cities including London, Shanghai, Mexico City, Dubai, and Tokyo.
Maxim’s Caterers is a food and beverage company with over 2,000 outlets across Asia, including operations in Mainland China, Hong Kong, Macau, Vietnam, Cambodia, Thailand, Singapore, and Malaysia.
In other recent news, Shake Shack reported its second-quarter 2025 earnings, delivering an earnings per share (EPS) of $0.44, which exceeded the forecast of $0.37. Revenue for the quarter also surpassed expectations, reaching $356.5 million compared to the anticipated $353.58 million. Despite these strong earnings and revenue figures, investor concerns led to a sharp decline in the stock price. Following these results, several analyst firms have adjusted their price targets for Shake Shack. Stifel raised its price target to $110, citing strong margin performance, while maintaining a Hold rating. Truist Securities increased its target to $162, highlighting margin strength and maintaining a Buy rating. TD Cowen also adjusted its price target to $110, describing the company’s performance as encouraging despite a challenging market environment. These developments reflect the mixed sentiment surrounding Shake Shack’s recent financial performance and future prospects.
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