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SINGAPORE: Familiar franchise brands are slowly re-entering the Singapore market, years after pulling out.
American casual dining is making a comeback in Singapore. TGI Friday's has returned after it closed up shop during the Asian Financial Crisis in 1997, along with several other international franchise brands in the F&B and retail sectors.
Andrew Reddy, managing director, Chaswood Resources, said: "There was an unknown factor during the financial crisis. It was new to every businessman in this part of the world. However this crisis made most governments in Asia and especially in Singapore, prepare the people well and they have prepared themselves well."
But the Malaysia-based operator said Asia is a fast-growing market and it's hoping its success in Malaysia and other regional countries will be repeated in Singapore.
Over the years, Singapore has become a more cosmopolitan city with more Singaporeans increasingly becoming exposed to different cultures and foods from around the world. And that's why some franchise operators said now is the time to make a re-entry into the Singapore market.
Burger joint Wendy's is another American outlet that's back in town.
The franchise is owned by Kopitiam and opened at Lau Pa Sat Market in mid-December.
90 pe rcent of the menu is the same as can be found in the US.
But there have been a few adjustments to suit Asian tastebuds.
Jeffrey Lim, director, Kopitiam Management, said: "There is some tweaking in terms of the shrimp sandwich because the shrimp sandwich is something we brought in from the Malaysian franchise and that has been tweaked according to the tastebuds of Singaporeans."
The company is planning to open a second Wendy's at Jurong Point by March 2010.
Both outlets will be converted to 24 hour operations while TGIF is hoping to have at least three outlets in Singapore by 2012.
The franchise operator of Dunkin Donuts, another brand making a re-entry into the Singapore market, has plans to open another 20 outlets within the next 3-5 years.
Another Malaysian-based franchise operator has reopened a new Dominos Pizza with more outlets slated for launch soon.
The two operators are hoping the launch of the two integrated resorts will help boost their business. - CNA/vm
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