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TGI Fridays set to expand rapidly across Asia
TGI Fridays has revealed plans to open 75 new restaurants in South and Southeast Asia over the next 10 years.
According to reports, the casual-dining chain has revealed that the big franchising push in Asia will be its largest development agreement ever.
The deal, which is expected to generate US$500 million in revenue over the next decade has been made with Universal Success Enterprises and will add to the Dallas-based chain’s large overseas network of operations.
TGI Fridays currently has 385 global venues compared to just 315 in the US with 22 of its international restaurants being opened in 2022 alone, illustrating its thirst for expansion.
TGI Fridays CEO Ray Blanchette said: “We’re thrilled to bring the TGI Fridays brand – and experience – to new markets and consumers in Asia through our expanded partnership with Universal Success Enterprises”.
Universal Success, which is based in Singapore, has experience bringing US brands to the region and already operates three TGI Fridays in India.
Universal Success founder and chairman Prasoon Mukherjee added: “[I’m] thrilled to be sharing the brand experience with consumers across the region.”