Subway announced on Tuesday that it reached an agreement with a master franchisee to open almost 4,000 new stores across mainland China over the next 20 years. It is the largest such agreement in Subway's history.
The deal gives master franchisee Shanghai Fu-Rui-Shi Corporate Development Co. LTD. (FRS) exclusive rights to manage and develop all Subway locations in China. As they expand overseas, Subway has been closing thousands of locations across the U.S. Subway is not alone in their expansion in China. Starbucks plans to open 3,000 new locations by 2025.
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