Fawaz Abdulaziz Al Hokair & Partners Company “Al Hokair” has announced the signing of two new franchise agreements with “Subway”, the largest restaurant brand in the world, and with the Lebanese confectionery company “Secrets”.
Al Hokair stated in a statement on Saudi Tadawul that the first deal is an ambitious growth plan to double the Subway restaurant network to reach around 210 branches in Saudi Arabia in the coming years by adding a minimum of 145 new branches.
The deal will facilitate the rapid creation of Subway’s new restaurant, Fresh Forward, backed by a digital first brand strategy that offers customers pre-order options.
The two agreements are in in line with Al Hokair’s strategy of transforming itself into the main commercial entity associated with providing a modern and active lifestyle in Saudi Arabia and markets in selected growth, while increasing the diversification and expansion of its portfolio of brands in the food and beverage sector and retail outlets in the Kingdom.
Subway stores provide fresh, healthy, made-to-order food to millions of visitors every day in more than 100 countries through its chain of nearly 40,000 restaurants or by home delivery.
Under the franchise agreement, Al Hokair will benefit from the Kingdom’s existing network of stores, which includes more than 210 restaurants. Additionally, Al Hokair has strong plans for a global brand in the Kingdom in it plans to open 145 company-owned stores over the next six years.
The addition of “Subway” to the fast-service restaurant group is a major achievement in implementing the company’s strategy to grow its food and beverage business and increase its revenues by meeting the changing needs of consumers in the Kingdom.
The company has also signed a franchise agreement with Lebanese Cake Bakery Company “Secrets”, which represents the addition of a new and unique brand to the food and beverage sector in the Kingdom.
To launch the “Secrets” brand, “Al Hokair” intends to open several stores in all over the Kingdom and complete the service by adding a delivery section. The company also plans to add a catering service to individuals and businesses, as well as vertically merge it with its existing brands, in especially the coffees.
The acquisition of new franchises is in in line with Al Hokair’s commitment to transform in a multi-channel company and implement a digitalization strategy, with a focus on scalable and scalable brands that support multi-format stores and are in able to adapt quickly to sales online.
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