TOM N TOMS Master Franchise Contract in Qatar is Finalized
Ø Oil export powerhouse(country that exports a lot of oil has lots of money, rich country), Entered in Master Franchise with a rich country “Qatar”
Ø Contract with ‘Qatari Investor Group’ for Construction in the middle east / Rent / Real Estate company concluded
Ø Goal is to start 15 stores in Qatar
Ø Plans to open 1st store at the world wide famous “Hotel Chain” within Doha (capital of Qatar)
Ø Examination of Saudi Arabia, Kuwait, Arab Emirates
(2014 July 28th Monday) TOM N TOMS has entered a Master Franchise contract with Qatar Investor Group on July 28th(Mon).
Although Qatar is a country with a population of just 2,000,000~2,500,000 people, they are known to be a power country because of their oil exports bringing in wealth. The people of the country are mostly Muslim and because most restaurants prohibit the sale of alcohol, the coffee and tea culture is more developed. This has caused competition between different coffee brands to be fiercer in the area.
Qatari Investor Group is a company that specializes in construction, rent, and real estate and with this company; Tomntoms have set goals to open 15 stores in Qatar.
CEO Kim Do Kyun says “At the world major hotel chain, TOM N TOMS will be opening the 1st store in Qatar and will eventually spread into Saudi Arabia, Kuwait, and Arab Emirates as well. Through this opportunity, I hope to introduce the TOM N TOMS brand all over the Middle East.”
While Tomntoms has open 28 stores overseas in US, Thailand, Australia, Singapore, and Mongolia the 1st directly managed store in Qingdao, China is also under preparation for opening. In addition, plans for a master franchise contract in Macau, Armenia as well as a franchise in the Philippines will be in progress during the second half of the year.