Immigrants are portrayed as disadvantaged due to discrimination in the labor market and social exclusion in the host country. In immigrant entrepreneurship literature, ethnicity has been viewed as a disadvantage. Research has mainly discussed how immigrant’s disadvantages lead to business creation. Discussion on immigrant’s advantages is scarce. This study explores the process of transforming ethnicity from a disadvantage to an advantage. To fulfill this purpose, we draw upon a case study of 10 luxurious, high-end Vietnamese restaurants in Sweden. Visual content and text analysis of home pages and social media is performed to understand how, and which, ethnic markers are used to express exclusiveness. Observations and ‘mystery shopper’ experience are used as supplement. As a theoretical lens, we adopt international institutional and immigrant entrepreneurship literatures and theories of production of space. The initial findings indicate that ethnicity is transformed from a liability to an asset through a distinctive fusionizing process. This process comprises of two sub-processes: (1) ethnicitizing of home and (2) homing of ethnicity. The ethnicitizing of home produces a space that gathers and displays the most distinguished features of the given ethnicity. The homing of ethnicity is the outcome of not only diversifying but also, harmonizing ethnic values with local values.