Cold Stone Creamery has signed three new partners in Singapore, Cyprus and Brazil. The Scottsdale, Ariz.-based chain, owned by Kahala, has entered into franchising agreements to expand in these countries beginning this year.
Kitchen Language is the master partner for Cold Stone in Singapore and Malaysia and is the food and beverage arm of Singapore’s largest private developer, Far East Organization.
Formed in 2008, Kitchen Language is planning to open 10 Cold Stone stores in Singapore and six stores in Malaysia by 2014, with the first opening on March 12 on Orchard Road, the most famous road in Singapore.
The master franchise agreement for expansion into Cyprus and Greece was signed with Gustatus Ltd., which is the food and beverage sector of Top Retail Co Ltd. The first unit to open in this territory is slated for May in Limassol, Cyprus, with additional growth targeted for seven stores opening in Cyprus within five years.
The expansion plan in Greece is to open eight locations in six years, with the first Cold Stone planned for 2013.
“Cold Stone Creamery researches the international markets and respects local cultures, which aligns with the values of Gustatus Ltd.,” said Vasilis Michailidis, managing director. “Cold Stone’s adaptability to different markets across the world while staying true to the brand’s character and brand integrity is one reason we believe the ice cream brand will be very well-received in Cyprus and Greece.”
Later in 2011, Cold Stone Creamery will open in Brazil through new master franchise J.J.F. Franquias LTDA, which consists of the daughter of one of the shareholders and two of the top franchisees of a well-known Brazilian coffee concept.
With the most rapid growth plans between the three new master franchisees, J.J.F. Franquias LTDA intends to open 26 Cold Stone Creamery locations in Brazil in the first five years. The first store is scheduled to open in August.
Cold Stone Creamery’s aggressive international growth began in November 2005 when the company opened in Tokyo. Today, Cold Stone has more than 345 international locations in 16 different countries including China, Korea, Canada, Denmark and the United Arab Emirates.
