Max's Group plans Yellow Cab stores in Kuwait, Bahrain, Oman
MANILA, Philippines – Max's Group Incorporated is expanding its presence in the Middle East by partnering with Qatar-based Silver Group for the establishment of at least 22 Yellow Cab Pizza stores.
Max's Group said in a disclosure to the local bourse on Monday, November 7, that it has finalized a development agreement with Silver Group to establish at least 22 Yellow Cab Pizza stores across 3 countries – Kuwait, Bahrain, and Oman – within 5 years beginning January 2017.
"We are pleased with the opportunity to further expand our presence in the Gulf Cooperation Council (GCC) region," Max's Group president and chief executive officer Robert Trota said in the disclosure.
"Our international business has been scaling up quite aggressively with Yellow Cab Pizza emerging as the most coveted brand. We are optimistic in sustaining this pace as we possess the necessary structure and support systems to fuel overseas growth through franchising," Trota added.
7th for the year
This latest agreement is the 7th overseas franchise contract forged by Max's Group for 2016, translating to a total international pipeline of 153 outlets slated to open in the coming years. (READ: Max's Group on Europe expansion: Not for now)
"Silver Group pioneered our pizza offerings in this territory. We appreciate their continued trust and for sharing our vision of Yellow Cab Pizza as a global mainstream brand," Trota said.
With the partnership, Trota is confident the company will be able to replicate its earlier success in Qatar in other countries.
"Silver Group greatly values the partnership and mutual success. Therefore, it was one of our great achievements to have an agreement with MGI to operate Yellow Cab in Kuwait, Bahrain, and Oman as we believe in the brand potential in these markets after the achieved results in Qatar," Silver Group CEO Abdulrahman Al-Kaabi said.
Yellow Cab Pizza currently operates a network of 145 branches, including 7 franchised outlets in Qatar, one in the United Arab Emirates, and two in China.
Plans are underway to open flagship stores in Singapore, Hawaii, Jordan, and Egypt.
Max's Group earlier reported a 3% increase in 9-month net income to P380 million from P368 million recorded in the same period a year ago.
Max's Group is the largest operator in the Philippine casual dining segment.
Its brands include Max's Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max's Corner Bakery, Teriyaki Boy, Dencio's, Meranti, Sizzlin' Steak, Maple, Kabisera, Le Coeur de France, and Singkit. – Rappler.com