Entering the Middle East Market... Kyochon F&B Signs Master Franchise Agreement in Dubai
On the 10th (local time) in Dubai, UAE, Kyochon F&B Co., Ltd. and Galadari Brothers Group signed a master franchise agreement, and the attendees are taking a commemorative photo. (From left) Mohamed Abdullatif Ibrahim Galadari, Co-Chairman of Galadari Brothers Group; So Jin-se, Chairman of Kyochon F&B; Suhail Abdullatif Ibrahim Galadari, Co-Chairman of Galadari Brothers Group
View original image[Asia Economy Reporter Lim Hye-seon] Domestic chicken franchise Kyochon F&B is targeting the Middle Eastern market.
On the 10th (local time), Kyochon F&B signed a master franchise (MF) agreement with the Galadari Brothers Group in Dubai.
The Galadari Brothers Group, which signed the contract with Kyochon F&B, is a company that has successfully operated a global ice cream franchise brand for about 40 years in several Middle Eastern regions including the United Arab Emirates, Saudi Arabia, and Qatar, and owns approximately 1,000 stores.
Through the contract with the Galadari Brothers Group, which has a high understanding of the Middle Eastern market and franchise operation capabilities, Kyochon F&B plans to open its first store in Dubai, UAE, where chicken consumption is high and global brands are actively entering. Starting with this, the company aims to open 100 stores over the next five years in a total of nine countries including Middle Eastern regions such as the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Lebanon, Jordan, and African Morocco.
Sojinse, Chairman of Kyochon F&B, said, “The Middle East is a region with high chicken consumption worldwide and a favorable atmosphere toward Korea due to strong interest in Korean culture.” He added, “Based on differentiated menus such as the Kyochon series (soy sauce chicken) and Honey series (honey chicken), we will strive to captivate the tastes of customers in the Middle East and establish ourselves as a representative Korean chicken brand.”
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Meanwhile, Kyochon Chicken currently operates 47 overseas stores in six countries including the United States, China, Malaysia, and Indonesia. In March, it signed a memorandum of understanding (MOU) for a master franchise agreement with Singapore.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.