Costa Coffee signs five-year UAE franchise agreement
MMI and Costa Coffee have signed a new contract, extending MMI's United Arab Emirates (UAE) franchise of the branded coffee concept for a second five-year period.
MMI's five-year development plan for Costa Coffee in the UAE incorporates the opening of a significant number of new outlets in high profile retail and commercial locations, complementing the existing eight outlets currently serving the market.
“The UAE Costa Coffee franchise business has steadily gained momentum since 1998, when we opened our first Costa Coffee outlets at Century Village and in Deira City Center,” said Chief Executive Officer at MMI, Kerem Camcigil. “MMI has since opened six outlets, including the very high profile locations in Dubai International Airport and at Mercato shopping mall in Jumeirah. We are also looking to add outlets in prime locations in Abu Dhabi and Sharjah, as opportunities arise.”
The Costa brothers opened the first Costa Coffee store in London in 1978 and initially expanded at the rate of two stores per year. Following the acquisition of Costa Coffee by Whitbread in 1995, the business experienced strong growth, building a network of over 400 outlets by 2003. — (menareport.com)
© 2003 Mena Report (www.menareport.com)