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FINANCIAL NEWS
Cravia plans major expansion by 2015
04 Jan 2011
(MENAFN) Walid Hajj, Chief Executive Officer at Cravia; a food licensing company, said that it has set plans for major expansion in 2011, and the following three years, largely through kiosks and smaller outlets situated in office buildings and airports, Arabian Business reported.
By the end of 2015, Cravia seeks to increase the number of its UAE outlets to 150, up from the current 41 outlets, through the expansion of its current brands Cinnabon, Seattle’s Best Coffee, Zaatar W Zeit and the Roadster Diner, explained Hajj.
According to Hajj, the mentioned expansion comes in line with the food licensing firm’s plans to bolster its annual revenue to at least $108.9 million by 2015, up form the $27.2 in revenues in 2010, by means of including new brands and a wider expansion into the rest of the GCC and North Africa.
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