Cinnabon, Inc., the snack leader in the bakery-cafe segment opened a store earlier this month in Tripoli.
A co-branded Cinnabon and Carvel store debuted July 2, 2012 on the busiest street in the city and signifies a milestone — the first-ever U.S. brand to debut in Libya. The location was in the works for more than two years, with the opening delayed due to the Libyan revolution last year.
The location was developed by franchise partners Arief and Ahmed Swaidek, brothers who plan to build another Cinnabon location later this year and will develop at least 10 Cinnabon stores in the next five years. The partners also have signed on to bring more Carvel and Moe’s Southwest Grill locations to Libya.
Cinnabon has more than 900 locations in 51 countries. Throughout the remainder of 2012, it projects opening approximately 130 new international bakeries globally with new market launches in Nicaragua, Iraq and Ukraine. The company plans to enter an additional eight new international markets in the next 12 months.
International expansion is a main focus for the brand’s immediate growth. The company has opened 71 Cinnabon locations in Russia in three years, with plans for another 80 over the next five years. Shattuck also said Cinnabon is looking for franchise partners in other North African countries, such as Algeria, Tunisia and Morocco.
(Source: Bikya Masr)