NexCen Brands Announces Opening of First Shoebox New York(R) Store in the Middle East
Store Opened in South Surra, Kuwait
NEW YORK--(BUSINESS WIRE)--NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced the opening of the first Shoebox New York® franchised store in the Middle East. The new store opened in the 360° Mall in South Surra, Kuwait under an existing master franchise agreement with master developer Khalid Al-Mutawa.
This agreement, signed in February 2009, provides for the development of at least three Shoebox New York franchised stores in Kuwait over a 10-year term. Additionally, Mr. Al-Mutawa owns the rights to develop TAF™, another NexCen Brands retail footwear concept, in Kuwait, Jordan, Egypt, and Lebanon.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, Inc., stated, "We continue to leverage our franchise development model by cross-selling our brands to proven master developers, like Khalid Al-Mutawa. The opening of the first Shoebox New York location in the Middle East demonstrates the effectiveness of our strategy."
Chris Dull, President of NexCen Franchise Management, Inc., the franchising subsidiary of NexCen Brands, stated, "We are pleased to bring Shoebox New York to the 360° Mall, a new shopping destination in Kuwait, which houses marquee brands, including a new TAF store opened by the same master developer. We believe that Shoebox New York's high-quality, high-fashion and trend-right merchandise will resonate with consumers in this sophisticated market."
About NexCen Brands, Inc.
NexCen Brands, Inc. is a strategic brand management company with a focus on franchising. It owns a portfolio of franchise brands that includes two retail franchises: TAF™ and Shoebox New York®, as well as five quick service restaurant (QSR) franchises: Great American Cookies®, MaggieMoo's®, Marble Slab Creamery®, Pretzelmaker® and Pretzel Time®. The brands are managed by NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.
About Shoebox New York
The Shoebox New York® concept had its genesis from Shoebox, one of New York's premier women's multi-brand retailers for luxury footwear, handbags and accessories. Established in 1954 and known for its vast product assortment and trend-setting styles from top European and American designers, Shoebox garnered a dedicated following of sophisticated women. Shoebox New York continues this tradition by offering high-quality, high-fashion shoes and accessories in franchised stores in the U.S. in New York and Florida and internationally in Vietnam, South Korea and now Kuwait.