US bakery and coffee chain extends the Innovative Union Company (IUC) extend franchise agreement to target 130 new stores in Saudi Arabia within five years
Cinnabon currently operates 120 stores in Saudi Arabia | Photo credit: Focus Brands International
Cinnabon is charting a course to more than double its Saudi Arabian store count within five years. The US bakery and coffee chain has received further investment from Saudi franchise partner Innovative Union Company (IUC) to grow its store count in the country from 120 to 250 stores – a goal that if achieved would make IUC Cinnabon’s largest franchisee in the world.
According to IUC, Cinnabon has enjoyed strong sales momentum throughout the pandemic, particularly through increased third-party delivery.
“We're looking forward to increasing Cinnabon's footprint and accessibility throughout the region,” Mohammad Alohaly, Sub Franchise General Manager of IUC.
"We're thrilled to partner with IUC to expand Cinnabon's footprint across KSA," said Beto Guajardo, President of Focus Brands International, which licences the Cinnabon brand worldwide.
"At a time of revolutionary development for Saudi business owners, we are confident that IUC is set-up to provide the financial tools, resources and support for budding entrepreneurs to operate a successful franchise business,” Guajardo added.
Cinnabon has sought to grow its international presence in 2021, signing multi-unit franchise deals in Bahrain, Indonesia, Kuwait, Pakistan, Singapore, Turkey, and United Arab Emirates.
In December 2020, Cinnabon signed an agreement
with UK petrol station forecourt operator, EG Group, to open stores in the UK and Europe.