STRATEGIC PARTNERS
Telepizza expects to launch operations in Saudi Arabia following the signing of a master franchise agreement with Emtyaz Catering Company.
March 10, 2016
Telepizza expects to launch operations in Saudi Arabia following the signing of a master franchise agreement with Emtyaz Catering Company, a subsidiary of the Al Bayan Holding Group, which is the strategic partner for Telepizza in Saudi Arabia, according to a company press release.
The agreement includes a commitment to open up to 100 stores within the next 10 years, and construction of the first four stores has begun in the capital city of Riyadh, with openings planned between late April and early May. The company aims to continue expanding its brand to other Saudi locations, including the western and eastern areas of the country.
"Our international expansion is gaining momentum after a strong launch, which has been reinforced by international partners who have extensive local knowledge and expertise in key markets, and who are interested in growing our brand globally," said Pablo Juantegui, CEO of Telepizza.
"We have a great competitive advantage: our capacity to respond quickly and our flexibility to apply local concepts to the business, both of which are key to our success. In addition, we have the differentiating value of an innovative product, freshly handmade quality pizzas in a Mediterranean style, concepts increasingly valued in the international markets," said Giorgio Minardi, president, international, of Telepizza.
Telepizza's international strategy is focused on growth in markets where it is currently operating, exploring new business opportunities, and entering new markets, either organically, through acquisitions of local companies or via master franchises, the release stated.
"We are very pleased to join the Telepizza Company. Its unique brand concept and the high degree of product innovation have been crucial when selecting a new partner. Telepizza has strong cultural and quality values, very similar to what we have established in Al Bayan Holding Group. We look forward to growing together in this long term successful partnership," said Nasser Al Hammad, executive VP of Al Bayan Holding Group.
