Cenomi Retail, Saudi Arabia’s pioneering retail brand partner, has announced the opening of 12 new Subway branches across the kingdom, setting a new world record for the number of openings in a single day.
The branches are located in Riyadh and Dammam and include a combination of four traditional restaurants in high footfall prime areas, two non-traditional branches in corporate offices and six cloud kitchens in high demand delivery zones, to cater to a range of consumer segments, whilst supporting their cost optimisation strategy and providing the best customer experience.
The contribution from the new restaurants will flow through from Q4 FY24 onwards, adding an estimated $3.5M of revenue per year. This, combined with the use of the latest industry technology and reduced overall capex requirements, will result in an accelerated payback period of less than two and a half years, which is lower than the industry average of three years.
Salim Fakhouri, CEO of Cenomi Retail, commented: “Successfully opening 12 new Subway branches in one day is an impressive world record that also underscores our strategic agenda of continuously developing our F&B footprint with Tier 1 Champion brands. By strategically positioning cloud kitchens in high-demand delivery zones and opening traditional outlets in busy, high-footfall areas, Subway can serve a wider customer base with optimal capex deployment. This dual approach not only enhances the overall customer experience but also contributes to higher sales across multiple segments.”
