Calabasas Hills, California-based
The Cheesecake Factory Inc.
) opened its largest outlet at the Mall of the Emirates in Dubai
on December 31, 2012. The latest 22,800 square-feet restaurant,
opened in association with the Alshaya Trading Co., W.L.L., marks
the third overseas opening.
The new outlet enjoys a prime location in Dubai and lies in
close proximity to the Ski Dubai slope. It accommodates around
526 seats and its wide range of menu has more than 200
In January 2011, the company signed an agreement with Alshaya
group of companies to build and operate 22 Cheesecake Factory
restaurants in five countries of the Middle East--United Arab
Emirates, Kuwait, Bahrain, Qatar and the Kingdom of Saudi Arabia
over the next five years. The agreement also includes expansion
plans in other markets of the Middle East and North Africa,
Central and Eastern Europe, Russia, and Turkey.
Under this licensing agreement, the company made its
international debut with the opening of its first The Cheesecake
Factory restaurant in Dubai in August 2012 and it has also opened
another restaurant in The Avenues Mall in Kuwait.
The Cheesecake Factory is on a growth trajectory on both
national and international fronts. The company currently operates
173 restaurants, including the two units opened during the third
quarter of 2012.
The company expects to unveil as many as eight restaurants in
fiscal 2012, of which four units have already been opened. At
present, management aims to open as many as 8 to 10 new
company-owned restaurants in fiscal 2013.
Other western restaurateurs with prominent presence in the
Middle East are
Yum! Brands Inc.
Krispy Kreme Doughnuts Inc.
). Cheesecake Factory currently carries a Zacks #4 Rank
(short-term Sell rating). We have a long-term Neutral
recommendation on the company.
CHEESECAKE FACT (CAKE): Free Stock Analysis
KRISPY KREME (KKD): Free Stock Analysis
YUM! BRANDS INC (YUM): Free Stock Analysis
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