Despite last week's announcement that Wendy's sole franchisee in Japan would be closing all of its stores, the Asian market still shows promise for the burger chain. Kopitiam Investment Pte Ltd., which signed a development agreement to build and operate 35 Wendy's restaurants in Singapore over the next 10 years, has opened its first store at Lau Pa Sat in the Central Business District.
Long lines of customers attended the grand opening, marking the chain's re-entry into the country after a 10-year absence, according to a story in Channel NewsAsia.
Te development agreement in Singapore is part of the Wendy's/Arby's Group plan to increase development efforts outside of North America.
"The Kopitiam Group is a well-known and respected food service company. This opening marks an important milestone in our efforts to grow in key international markets," said Andy Skehan, senior vice president, Wendy's/Arby's International. "Based on comprehensive analysis, we believe we have the long-term growth potential for more than 8,000 restaurants outside of North America, including a much stronger presence in the Asia/Pacific region."
