Logo of Fawaz Abdulaziz Alhokair Co.
Fawaz Abdulaziz Alhokair Co. (Fawaz Alhokair) signed two new master franchise agreements with Subway, and Lebanese cake shop concept Secrets.
According to a bourse filing, the agreements are in line with the company’s strategy to transition to a lifestyle retailer, while further diversifying and expanding its food and beverage (F&B) portfolio and outlets in the Kingdom.
Subway serves freshly made-to-order and better-for-you food delivered at home and in store to millions of guests across more than 100 countries in nearly 40,000 restaurants every day.
The agreement will see Fawaz Alhokair immediately capitalizing on the 210 restaurants network currently operating in Saudi Arabia.
The company has aggressive plans for the global brand with a minimum of 145 new company-owned locations expected to be added in the Kingdom in the coming six years.
Fawaz Alhokair’s immediate plans for bringing Secrets range from opening physical stores complemented by a delivery leg, adding a catering service, and vertically integrating it with its existing brands specifically coffee shops.
The new franchise acquisitions are aligned with the company’s commitment to an omni-channel approach and digitization strategy, with a focus on scalability, multi-format outlets and swift adaptability to online sales.
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