Famous brands hit by restaurant restrictions
It's hard enough running a franchise network across 24 brands when people can actually go there - never mind when they're shut down.
Darren Hele, CEO of Famous Brands, tells the Money Show how the food outlets in the franchise have been coping during lockdown and how the different markets across different geographies reacted to lockdown.
They all followed a very similar formula, probably executed differently - the one that stands out is Botswana who acted a bit later than South Africa and where certainly it's been relatively safe to do business and easy to do business.Darren Hele, CEO - Famous Brands
It's profound - it may well be fundamentally changing forever but the encouraging thing just in the last few days seeing what is happening in some international markets is that people revert back to what they understood quite quickly.Darren Hele, CEO - Famous Brands
Obviously with social distancing it's not easy to operate but certainly people have been getting in the streets and trying to get a table in some of the markets that we've seen. We've actually opened some stores in Dubai this weekend and we've seen within the social distancing framework some interesting support.Darren Hele, CEO - Famous Brands
I think the brand will survive - maybe the size of the network is going to have to change - maybe some will get configured from one to the other...it goes without saying that the market is going to contract.Darren Hele, CEO - Famous Brands
A hibernation approach at the moment is probably the best approach - opening too quickly is going to land us up in challenges.Darren Hele, CEO - Famous Brands
Listen to the interview below.
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