Cenomi Retail opens 14 new Subway stores across Saudi Arabia in one day
By the end of 2024, the total number of Subway stores in the Kingdom is expected to rise to 57.
Cenomi Retail, the exclusive master franchisee for Subway in Saudi Arabia, has opened 14 new Subway stores in a single day, surpassing its previous record of 12 store openings.
The openings of these stores strengthen Cenomi Retail’s endeavour to position itself in Saudi Arabia’s food and beverage (F&B) market, which is expected to rise at a compound annual growth rate (CAGR) of 9% from 2022 to 2026.
In September 2024, Cenomi Retail’s fully-owned Subway stores, with 28 locations at that time, contributed 14.8% to the revenue of Tier 1 champion brands in the F&B segment.
By the end of 2024, the total number of Cenomi Retail-owned Subway stores in the Kingdom of Saudi Arabia is expected to rise to 57, an increase that is expected to boost Subway’s contribution to approximately 25% of Tier 1 F&B revenue for the company in 2025.
The 14 new Subway stores include 8 traditional stores in high-traffic, prime locations, with 12 stores in Riyadh alone, as well as 6 non-traditional stores located in sites including hospitals, banks, universities, and government entities.
The total payback period for the 14 new stores is estimated at just 2.7 years.
“By diversifying our store locations and expanding into both traditional and non-traditional venues, we are able to cater to an even wider consumer base,” said Salim Fakhouri, CEO of Cenomi Retail.
“This diverse strategy enables us to tap into a number of consumer segments, delivering an exceptional experience across various locations within the Kingdom,” Fakhouri added.
