 NexCen Brands Inc announced the opening of the first Shoebox New York franchised store in the Middle East. The new store opened in the 360° Mall in South Surra, Kuwait under an existing master franchise agreement with master developer Khalid Al-Mutawa.
This agreement, signed in February 2009, provides for the development of at least three Shoebox New York franchised stores in Kuwait over a 10-year term. Additionally, Mr. Al-Mutawa owns the rights to develop TAF, another NexCen Brands retail footwear concept, in Kuwait, Jordan, Egypt, and Lebanon.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, Inc., stated, “We continue to leverage our franchise development model by cross-selling our brands to proven master developers, like Khalid Al-Mutawa. The opening of the first Shoebox New York location in the Middle East demonstrates the effectiveness of our strategy.”
Chris Dull, President of NexCen Franchise Management, Inc., the franchising subsidiary of NexCen Brands, stated, “We are pleased to bring Shoebox New York to the 360° Mall, a new shopping destination in Kuwait, which houses marquee brands, including a new TAF store opened by the same master developer. We believe that Shoebox New York’s high-quality, high-fashion and trend-right merchandise will resonate with consumers in this sophisticated market.” |