International Expansion News
Gap, Pennsylvania-Auntie Anne's Inc. has announced the completion of development agreements for Saudi Arabia, the United Arab Emirates and South Korea. The Fahad A. Al-Rajhi Co. holds the rights to own and operate locations within Saudi Arabia and plans to open approximately 20 locations over the next five years. Dynasty Foods Enterprises plans to open more than 20 locations in the United Arab Emirates over the next five years and also holds the rights for Oman, Bahrain, Qatar, Kuwait and Egypt. Jaewon Foods plans to open 30 stores in South Korea over the next five years. -Auntie Anne's Inc.
Minneapolis-International Dairy Queen Corp. established a new entity to better serve its international franchisees and enable future expansion outside the United States.
DQ Overseas Corp., a subsidiary of the parent company's franchising unit, American Dairy Queen Corp, will allow the franchisor of Dairy Queen, Karmelkorn and Orange Julius restaurants to provide individualized attention overseas, says Dean Peters of American Dairy Queen.
Though incorporated in Minnesota, the overseas entity allows for the possibility of many smaller, regional offices throughout the world. "It gives us the ability to have a corporate employee based internationally," Peters says. "It at least allows us to have somebody on site."
Plans are still in development, and the company has not yet set a timetable. It expects to have an executive in China within a year, and is also considering establishing one-person offices in Singapore and Mexico. -CityBusiness
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