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Licensing agreement calls for 22 restaurants in Middle East
The Cheesecake Factory Inc. is making its first foray into an overseas market, via an exclusive licensing agreement with the Kuwait-based Alshaya group of companies. The venture calls for Alshaya to build and operate 22 Cheesecake Factory restaurants over the next five years in five countries – United Arab Emirates, Kuwait, Bahrain, Qatar and the Kingdom of Saudi Arabia – with the opportunity to expand the agreement to include other markets in the Middle East and North Africa, central and eastern Europe, Russia and Turkey.
“With our menu featuring over 200 items that are prepared fresh daily in our restaurants and our focus on quality and hospitality, our restaurants are extremely complex to operate, and we set the bar very high in terms of our standards,” says David Overton, Cheesecake Factory's chairman and ceo. “We found the premier partner in Alshaya to operate and execute The Cheesecake Factory restaurants in a manner that is consistent with our existing domestic operations.”
Mohammed Alshaya, chairman of Alshaya's retail division, notes that his company “continuously asks consumers in the Middle East to tell us which U.S.-based casual dining restaurants they want most in their local markets. The Cheesecake Factory is always at the top of the list. We are delighted to be the company's initial licensee to develop and operate this outstanding restaurant concept internationally. The quality and popularity of The Cheesecake Factory brand, coupled with our local market expertise, as well as our track record of launching and operating high-profile American brands in the Middle East, produces a winning combination.”
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