January 14, 2010 // Franchising.com
// Los Angeles -- Fog Cutter Capital Group Inc.'s (OTCBB: FCCG)
Fatburger this week unveiled an elaborate international expansion
strategy for 2010 and beyond in the Middle East and Asia Pacific.
"Despite the recent downturn in the domestic economy, the international
market is on fire," said Andy Wiederhorn, Chairman, Fatburger. "The
Middle East and Asia Pacific are becoming exciting territories for us.
Our current locations in these regions have been extremely well
received. We are committed to serving our customers abroad by rapidly
growing the number of our locations from 16 to 56 stores."
In Saudi Arabia, 17 stores are planned, with a first location scheduled to open in 2010 in Riyadh;
Five new stores are scheduled in Kuwait with construction underway now in Kuwait City for its first opening in 2010;
Deals totaling 30 stores were recently signed for Qatar, Egypt, Lebanon, Jordan, Syria and Oman;
In
Dubai, Fatburger opened its first store in the region in 2008 in Dubai
Mall at the base of the Burj Dubai, the world's tallest building and is
opening its second store in early 2010. The company has unveiled plans
to open six additional locations in the city;
In Asia
Pacific, a Beijing store is presently under construction and will open
in February. Currently locations are open in Macao, Hong Kong and
Jakarta with additional locations planned for these cities, including
seven more stores for Indonesia and three for Singapore; and
15 store additional deal for Canada on top of the existing 12 stores.
Fatburger currently boasts 16 locations outside the United States, in
Canada, the Middle East and Asia Pacific, with plans to open over 40
more locations internationally over the next several years.