TGI Fridays Partners Universal Success Enterprise To Expand Presence In South and Southeast Asia

U.S. based global restaurant chain TGI Fridays has entered into a master franchise agreement for the development of 75 new restaurants throughout South Asia and Southeast Asia with Singapore-based Universal Success Enterprise (USE). The deal, expected to drive over US$500 million in revenue for the company over ten years, is the brand's most significant development agreement to date.

USE will set up TGIF in Singapore, Thailand, Vietnam, Sri Lanka, Nepal and Bangladesh. TGI Fridays presently has 869 locations in 55 countries, including 385 franchised restaurants in over 51 countries. Headquartered in Singapore, USE has a proven track record within the restaurant industry in Asia, introducing new restaurant brands and concepts to the region. 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.

“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," said Ray Blanchette, Chief Executive Officer at TGI Fridays.

Prasoon Mukherjee, Chairman at Universal Success Enterprises, added, "We're excited to expand the TGI Fridays brand and footprint in South and Southeast Asia," said. "Our deep experience in the hospitality industry, understanding of what consumers in our markets crave, and real estate development expertise uniquely positions Universal Success Enterprises to drive unprecedented growth for the brand."