(MENAFN - Kuwait News Agency (KUNA)) Kuwait is lucrative for franchise deals namely sales of trademarks in shadow of existence of hundreds of successful businesses with special national labels, according to an expert in the sector.
Kuwait was one of the first countries that dealt in the franchise trade in the Gulf region and kept this reputation till today, said Mahmoud Al-Musawi, the deputy manager for sales in the Gulf Franchise Company, in an interview published by the latest edition of the magazine, "The Franchise."
The Kuwaiti market is distinguished with heated competition in the franchise business, for its is saturated with foreign trademarks. This condition prompted Kuwaiti investors to create local label marks and marketed the labels in the region, he said.
Certain trademarks devised in Kuwait became quite famous in other Gulf countries, and some of the Kuwaiti trademarks became known in Singapore, Italy, France and the United States, Mousawi said.
Mousawi said his company started pondering marketing Kuwaiti trademarks abroad after noticing rapid and wide-scale spread of these national labels locally, he added.
Some of the most successful marks are those of food companies and restaurants, Musawi said, adding that Kuwaiti restaurants opened branches in Beirut, Istanbul and Sharm el-Sheikh, also noting that the marketing of the national labels in the Kuwaiti dinars would reap positive results for the national economy.
This business is lucrative and promising in the Gulf region of 30 million souls and high levels of standards of living. An international exhibition on the franchise business is due in Dubai on May 9-10. Kuwaiti companies specialized in marketing labels would take part in it.