TCBY Expansion Plan: Southeast Asia and Beyond
Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, announced a master franchise agreement that will bring 28 TCBY stores to Malaysia, Indonesia, Singapore, and Vietnam over the next 10 years. The deal is representative of the international growth for both American dessert brands.
Under the new agreement, 28 locations will be developed in the neighboring Southeast Asian countries, the first of which is slated to open this summer in Kuala Lumpur. Three other TCBY stores will open by the end of 2014. Famous Brands has partnered with Malaysian-based Dewina Holdings Group, which owns and operates franchises in the region including Café Barbera, Burger King, Quiznos, and Popeyes Chicken & Biscuits.
“We are thrilled to expand our footprint in Asia so that we can continue to introduce our legacy brands to more consumers worldwide,” says David Bloom, chief operating officer for Famous Brands. “International demand for TCBY and Mrs. Fields Cookies remains strong and we’re eager to partner with qualified partners to grow our presence internationally.”
Other notable recent international openings for Famous Brands include three new Mrs. Fields stores opened in Riyadh, Saudi Arabia; three new Mrs. Fields stores opened in Thailand; two new dual-brand TCBY and Mrs. Fields stores opened in Pakistan; and one new dual-brand TCBY and Mrs. Fields store opened in Egypt
Key international growth markets for Famous Brands include South America, Mexico, India, Japan, UAE, and most of Europe. The company is continually looking to partner with master franchise partners in these areas. International sales this year are up 10 percent system-wide for Famous Brands and the company expects to open 30 stores globally in 2014, including several new market launches.
Together, TCBY and Mrs. Fields have more than 900 locations in 33 countries. Mrs. Fields created the retail cookie industry in 1977, and TCBY pioneered the fro-yo industry in 1981. Consumer awareness exceeds 75 percent for both brands. Famous Brands is now focusing development efforts on dual-branded stores with a fresh new look. The stores offer three different revenue streams for owners: TCBY, Mrs. Fields and Mrs. Fields in-store gifting stations, inspired by MrsFields.com.
Famous Brands is a portfolio company of Z Capital Partners LLC, a leading private equity firm founded in 2006 with approximately $2 billion of regulatory assets and committed capital under management.