Saudi Arabian entertainment and hospitality company Fawaz Abdulaziz Alhokair Co (Alhokair) has signed master franchises with global sandwich shop chain Subway and Lebanese baker and patisserie Secrets.
In a statement to the Saudi Stock Exchange (Tadawul) Alhokair said the new agreements are in line with its strategy to transition to a lifestyle retailer while expanding its food and beverage (F&B) portfolio.
Under the agreement, the company said it will capitalise on the existing 210 Subway restaurants in the kingdom, and plans to expand aggressively, adding a further 145 stores within six years.
The company will also introduce the Lebanese bakery brand Secrets to the kingdom.
“Alhokair’s immediate plans for the new brand 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 statement said.
“The new franchise acquisitions are aligned with the company’s commitment to an omnichannel approach and digitalisation strategy, with a focus on scalability, multi-format outlets and swift adaptability to online sales.”
(Reporting by Imogen Lillywhite; editing by
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