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Dubai: Subway, the US fast-food sandwich chain, will set up 340 outlets in less than three years in the Middle East, as part of an ambitious expansion plan.
John S. Chedid, director of Subway UAE, said: "Subway plans to increase its presence substantially across the UAE and the Middle East. In fact, from our current presence of 160 outlets across the Middle East we intend to cross the 500 mark by the year 2010. That would represent an increase of almost 32 per cent. In UAE alone, we intend to raise our standing from 33 to 125 outlets during the same span of time."
Subway boasts of 27,000 retail outlets in 86 countries, with a brand new outlet opening up every three hours 20 minutes in some across the globe.
Chedid says the region has always been an integral part of the Subway success story. Bahrain became the first location outside North America to have a subway outlet, way back in 1984.
Chedid cites the economic boom across the Middle East and the growing number of people making healthy lifestyle decisions as the motivations for expansion.
"In the UAE alone, Subway registered a 24 per cent increase in sales in 2005 and the 2006 figure is sure to be better. In comparison to demand our expansion is quite modest. If I were to add the 2007 target of 17 outlets across UAE to our cumulative franchised tally of 17 stores in 2006, which includes 12 outlets in various stages of progress, then by all means we will be accomplishing 50 per cent of our target by end of this year itself."
A BIS Sharpnel study in consumer values pegs the UAE food market at Dh16 billion. At a growth rate of 11 per cent per annum, it represents a growth not seen in any other part of the world.
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