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NexCen expands international franchise reach
October 27, 2008
NEW YORK — NexCen Brands Inc. has opened 43 international franchised stores to date this year and entered into multi-year agreements that provide for the opening of a minimum of an additional 160 stores in eight countries. Under the new international development agreements, the company will receive approximately $2.5 million in initial franchise fees, in addition to future franchise fees, store opening fees and monthly royalty payments over the life of the agreements.
NexCen's pipeline of letters of intent and franchise agreements for franchised stores to be opened both domestically and internationally increased to 394 stores at the end of the third quarter 2008 versus 225 stores at the end of the second quarter of 2008.
The company's quick-service restaurant division, which is comprised of Marble Slab Creamery, MaggieMoo's, Pretzel Time, Pretzelmaker and Great American Cookies, has opened 22 new independently owned and operated franchised stores year to date outside the United States, exclusive of the new agreements.
- Marble Slab Creamery and MaggieMoo's have entered into a new development agreement that calls for 40 stores to be opened in the United Kingdom over 10 years, which will be these brands' first expansion into Europe
- Marble Slab also has entered into an agreement that calls for 35 stores to be opened in Mexico over 20 years and an agreement that calls for five stores to be opened in Lebanon over seven years, the first of which opened in September 2008
- Pretzelmaker signed an agreement that provides for 15 stores to be opened in Mexico over 15 years
- Great American Cookies signed a development agreement that provides for 30 stores to be opened in Mexico over 15 years. This is the first international agreement for Great American Cookies since NexCen purchased the brand.
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