Home / Knowledge / News / NexCen Brands increases international franchises
NexCen Brands increases international franchises
27
Oct '08
NexCen Brands Inc announced that it has expanded its franchised stores internationally through the opening of 43 stores to date in 2008 outside the United States and through the entry into multi-year agreements that provide for the opening of a minimum of an additional 160 stores in eight countries.

Under the new international development agreements, the Company will receive approximately $2.5 million in initial franchise fees, in addition to future franchise fees, store opening fees and monthly royalty payments over the life of the agreements.

NexCen's pipeline of letters of intent and franchise agreements for franchised stores to be opened both domestically and internationally increased to 394 stores at the end of the third quarter of 2008 versus 225 stores at the end of the second quarter of 2008.

The Company's Quick Service Restaurant (QSR) division, which is comprised of Marble Slab Creamery, MaggieMoo's, Pretzel Time, Pretzelmaker and Great American Cookies, has opened 22 new independently owned and operated franchised stores year to date outside the United States, exclusive of the new agreements.

Marble Slab Creamery and MaggieMoo's have entered into a new development agreement that calls for 40 stores to be opened in the United Kingdom over 10 years, which will be these brands' first expansion into Europe.

Marble Slab also has entered into an agreement that calls for 35 stores to be opened in Mexico over 20 years and an agreement that calls for five stores to be opened in Lebanon over seven years, the first of which opened in September 2008.

Pretzelmaker signed an agreement that provides for 15 stores to be opened in Mexico over 15 years, and Great American Cookies signed a development agreement that provides for 30 stores to be opened in Mexico over 15 years. This is the first international agreement for Great American Cookies since NexCen purchased the brand.

NexCen's Retail division, which is comprised of The Athlete's Foot (TAF) and Shoebox New York, has opened 21 new independently owned and operated franchised stores year to date outside the United States, exclusive of the new agreements.

TAF recently signed agreements that call for 10 stores to be opened in Angola over 10 years and for three stores to be opened in Botswana and Namibia over 10 years.

Shoebox New York signed its first international agreement to open a minimum of 20 stores in South Korea over 25 years, followed by the signing of an agreement to open two stores in Vietnam over 15 years. The first Shoebox New York store in Vietnam is slated to open in Hanoi in December 2008.

“We are very pleased to have secured an opportunity to further increase our brands' reach outside the United States with the signing of these new international development agreements,” stated Kenneth J. Hall, Chief Executive Officer of NexCen Brands.

“We believe that our franchise brands offer products and value that are attractive to an international audience. Importantly, customizable merchandising systems on the retail side and co-branding options with our QSR brands are helping to drive international expansion in both established and emerging markets.”

“Since our announcement in the first quarter of 2008 on the execution of the agreement to open 10 TAF stores in Sweden over 10 years, we have seen the rate of execution of international deals increase significantly,” stated Chris Dull, President of NexCen Franchise Management, the franchising subsidiary of NexCen Brands.

“We believe that by focusing on the franchising business as the core business of the Company, we are able to better support our franchise brands and capitalize on their significant growth potential.”

NexCen Brands

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Apparel/Garments | On 19th Jan 2017

Apparel brand Mango adapts website for Middle East region

Spanish apparel brand Mango has unveiled an adapted version of its...

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search