Manila—(PHStocks)—Max’s Group Inc. (PSE: MAXS) has gained headway in its international expansion program with the initial foray of its pizza brand into the United Arab Emirates (UAE). Yellow Cab Pizza Co., a leading player in the local pizza segment best known for its great-tasting New York style pizza, currently operates 112 branches in the Philippines and six in Qatar.
MGI recently signed a development agreement with Middle East-based Cartoon Fashion Group to build 10 Yellow Cab Pizza stores in the UAE within the next five years.
“This is aligned with our thrust of expanding our overseas presence into new markets,” said Max’s Group President and CEO Robert F. Trota. “With Cartoon Fashion Group’s proven track record and solid reputation in the UAE, we knew they were the best partner for this endeavor.”
Established in Dubai in 1988, the Cartoon Fashion Group has grown to be one of the UAE’s largest and most successful retail and hospitality consortiums. The group runs numerous well-known international brands, including Adidas, Ed Hardy and French Connection, in more than 25 outlets across Dubai and Abu Dhabi. Originally focused on retail, the group expanded its business to include Food and Beverage in 2010.
With this agreement, Yellow Cab is expected to have a total of 31 branches in the Middle East in the next 10 years, together with the 15 stores set to open in the Kingdom of Saudi Arabia and the six existing stores in Qatar.
MGI plans to accelerate its store rollout pace in the second half of the year primarily across its winning brands in time for scheduled mall openings and the Christmas season.