Hong Kong:
As part of its new master franchise agreement with Shanghai Fu-Rui-Shi Corporate Development Co., Ltd. (FRS), sandwich restaurant Subway stated that it intends to open thousands of new locations in Mainland China within the next 20 years.
Under the new organization, FRS will open almost 4,000 cafés in Central area China by 2043, developing Subways ongoing impression in the market by in excess of multiple times. Additionally, the group will acquire exclusive management and development rights for all Mainland China Subway locations.
According to the U.S. restaurant chain, the agreement, which was funded by a group of private investors, including Asia Investment Capital (AIC), is the largest master franchise agreement in Subway’s history and one of the largest in the QSR industry as a whole.
John Chidsey, The Global Chief Executive officer of Subway
Additionally, the company will appoint a chief executive officer with extensive QSR market experience.
John Chidsey, the global chief executive officer of Subway, stated, “This agreement is a significant milestone in Subway’s international growth strategy as we continue to focus on strategically expanding our footprint and maintaining our position as one of the world’s largest restaurant brands.” We are excited to bring the Subway experience to even more guests in China, which is a significant market with significant long-term growth potential.
In the past two years, Subway has signed 13 master franchise and development agreements, with over 9,000 future restaurant commitments worldwide.
In terms of the future, Subway stated that it intends to increase the number of its restaurants in the Asia-Pacific region by more than 6,000 to over 3,500 in the next five years.
