The snack bar network Metroplans to significantly expand its presence in China. The announcement of opening nearly 4,000 new stores in mainland China over the next 20 years represents significant growth for company and an important milestone in its global expansion strategy.
With this deal, Subway is positioning itself to become one of the leading fast-food brands in China, consolidating its presence and competing with other established chains in the country.
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This expansion can also boost job creation and contribute to the local economy, a significant proposition for both the company and the country.
Subway strikes historic deal with China
The agreement between Subway and Shanghai Fu-Rui-Shi Corporate Development (FRS) will certainly play a key role in implementing this large-scale expansion in China.
Partnering with a local company can provide specialist knowledge of the Chinese market, as well as the resources and support needed to establish and operate the new stores.
In the statement released by Subway, the CEO of Subway Global, John Chidsey, highlighted the importance of the agreement signed with Shanghai Fu-Rui-Shi Corporate Development (FRS) for the company's international growth strategy.
The deal involves the acquisition of exclusive controlling rights to all brand locations in mainland China by FRS, which is financed by a consortium of private investors.
The company's CEO emphasized Subway's continued commitment to expanding its presence and maintaining its position as one of the world's leading restaurant brands.
The Chinese market is highlighted as a significant long-term growth opportunity, and Subway is excited to bring its expertise to more locations in the region.
Furthermore, the China deal is part of the company's broader efforts to forge new partnerships in the US and other parts of the world, with an emphasis on the Asia-Pacific region.
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