IMMEDIATE RELEASE
NexCen Brands Announces Expansion of Six Franchised Brands in Africa
Master Franchise Agreement Provides for 58 Stores Over 10 Years in Angola, Guinea-Bissau, Sao Tome and Principe
NEW YORK--(BUSINESS WIRE)--Sep. 10, 2009-- NexCen Brands, Inc. (PINK SHEETS: NEXC) announced today the signing of a master franchise agreement with Teixeira Development Group, an Angolan company, for the expansion of the Company's Great American Cookies®, MaggieMoo's®, Marble Slab Creamery®, Pretzelmaker®, TAF™, and Shoebox New York® brands.
The master franchise agreement calls for the development of 58 stores across the six franchised brands in Angola, Guinea-Bissau, Sao Tome and Principe over a 10-year term. These stores will be the first NexCen franchised stores in these African countries. The Company recently announced the opening of the first TAF store in Botswana under a separate agreement signed in October 2008 with a different developer.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, Inc., stated, "We look forward to working with Teixeira and other franchisees to expand our franchised brands' presence in Africa, and believe there is great opportunity and appetite for our brands in developing countries. The agreement with Teixeira is a prime example of a master developer taking advantage of our diverse brand portfolio to enter new markets with multiple franchised brands."
Chris Dull, President of NexCen Franchise Management, Inc., the franchising subsidiary of NexCen Brands, stated, "We are excited to introduce our franchised brands to new consumers in Africa. We hope that our training, marketing and operational support, coupled with Teixeira's knowledge of the local market, will result in strong growth of our franchised brands in Angola, Guinea-Bissau, Sao Tome and Principe."
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 franchise concepts: TAF™ and Shoebox New York®, as well as five quick service restaurant (QSR) franchise concepts: 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.
Forward-Looking Statement Disclosure
This press release contains "forward−looking statements," as such term is used in the Securities Exchange Act of 1934, as amended. Such forward−looking statements include those regarding expectations for the future performance of our brands or expectations regarding the impact of recent developments on our business. When used herein, the words "anticipate," "believe," "estimate," "intend," "may," "will," "expect" and similar expressions as they relate to the Company or its management are intended to identify such forward−looking statements. Forward−looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties. They are not guarantees of future performance or results. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward−looking statements. Factors that could cause or contribute to such differences include: (1) international development agreements may not result in the actual opening of the stores provided for under those agreements, which could negatively impact anticipated franchise fees, store opening fees and monthly royalty payments over the life of the agreements; (2) economic conditions may deteriorate in international and domestic markets, which could negatively impact the sale or operations of new and existing franchise stores; (3) we depend on the success of our franchisees to develop and grow our franchise systems both domestically and internationally; (4) we and/or our franchisees may not be successful in operating or expanding our brands or integrating them into an efficient overall business strategy, (5) our marketing, licensing and franchising concepts and programs may not result in increased revenues, expansion of our franchise network or increased value for our trademarks and franchised brands, (6) other factors discussed in our filings with the Securities and Exchange Commission. . The Company undertakes no obligation to update or revise any forward−looking statements, whether as a result of new information, future events or otherwise.
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