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FINANCIAL NEWS
US Baskin Robbins plans to open 70 new stores in UAE
06 Sep 2011
(MENAFN) US Baskin Robbins said that in 2011, the ice cream retailer would launch additional 70 stores in the UAE with a cost of USD150,000, reported Arabian Business.
The retailer added that it already had 135 outlets in the country, whereas the total number of its stores in the Middle East reached 500, moreover, the company also planned to expand its range of low fat and sugar free products.
It also said that in 2011, the firm’s revenue grew 15 percent from 2010, on the other hand, in spite of the increase in the cost of cream and sugar that rose by 65 percent adding 8 percent to the company’s cost base, Baskin Robins didn’t raise its prices.
It is worth noting that since growing competition affected revenue gains in the US, several US food brands were looking to invest in the Gulf region for the existing opportunities there.
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