Dave & Buster's Launches International Development Initiative
Dave & Buster's Entertainment, Inc., an owner and operator of dining and entertainment venues, announced that it has launched its international development initiative with the signing of a master development agreement for the Middle East.
The franchise-based agreement with Dubai-based Apparel Group FCZO provides Apparel Group with exclusive rights to develop the Dave & Buster's brand within the six-country region encompassing UAE, Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia. Under the terms of the agreement, Apparel Group will build seven Dave & Buster's stores over a seven-year period.
Apparel Group operates over 1,000 stores under more than 50 brands across the Middle East and India. Founded in 1999, it is one of the most successful and fastest growing retailers in the Middle East with operations in 12 countries. Portfolio companies include Coldstone Creamery and Tim Hortons, as well as numerous fashion brands in the accessory, cosmetics, fashion, and footwear categories.
Dave & Buster's Chief Executive Officer Steve King says, "We have been actively searching for strong partners in targeted international markets and are delighted to be naming Apparel Group as our franchisee for the GCC region. Their leadership, operating infrastructure, and demonstrated ability to develop brands throughout the Middle East has positioned them as an ideal fit for Dave & Buster's. We look forward to building a strong and mutually rewarding long-term relationship with Apparel Group."