Dallas — TGI Fridays plans the development of 75 new restaurants throughout South and Southeast Asia over the next 10 years in partnership with Master Franchisor Universal Success Enterprises. The deal, which is expected to drive over $500 million in revenue for the U.S.-based company over 10 years, is the most significant development agreement to date for the brand.
This latest development deal is core to TGI Fridays’ strategic global expansion strategy — as growth of the casual restaurant category internationally continues to thrive. The brand currently has 385 franchised restaurants in over 52 countries — including 22 new locations opening in 2022.
“We’re thrilled to bring the TGI Fridays brand — and experience — to new markets and consumers in Asia through our expanded partnership with Universal Success Enterprises,” says Ray Blanchette, chief executive officer at TGI Fridays.
Prasoon Mukherjee, chairman of Singapore-based Universal Success Enterprises, began his restaurant career with TGI Fridays more than 30 years ago as a kitchen manager. The multinational company has a proven track record within the restaurant industry in Asia, introducing new restaurant brands and concepts to the region. Today, the company has 3 TGI Fridays locations in India and previously introduced Outback Steakhouse to key markets in South and Southeast Asia including Singapore, Malaysia, Indonesia, Thailand and the Philippines.
Dallas-based TGI Fridays® operate nearly 700 restaurants in 52 countries. For more information, visit www.Fridays.com.
SOURCE: TGI Fridays