US restaurant chain, TGI Fridays, is planning to expand its footprint in Asia with more than 75 locations set to open in the region over the next 10 years.
The expansion, which will focus on South and Southeast Asia, will be carried out under the extended partnership with master franchisor Universal Success Enterprises. The deal is expected to generate more than US$500 million in revenue during the next decade.
Ray Blanchette, CEO aft TGI Fridays, said Universal Success Enterprises’ deep experience in the marketplace will ensure the brand and its offerings are relevant to consumers.
Headquartered in Singapore, the company operates three TGI Fridays restaurants in India and previously introduced Outback Steakhouse to key markets in Southeast Asia including Singapore, Malaysia, Indonesia, Thailand and the Philippines.
TGI Fridays – which stands for ‘Thank God It’s Friday’ – has a network of more than 800 locations in 55 countries, more than half of which are franchised. The restaurant chain will open 22 locations this year.
TGI Fridays was founded in 1965 by Alan Stillman, with its first restaurant in New York.