The FINANCIAL — Wissol Group is expanding the American restaurant network Wendy’s and supermarket network Smart in Tbilisi.
The new branches, located in Vake, on Chavchavadze Avenue, will be employing a total of 300 people. The new Vake supermarket is the 13th branch for Smart. As for Wendy’s, it’s the second branch of the American restaurant in the country. Wissol Group has stated that a new product – the ‘Portabella Melt’ burger, has been introduced in the new restaurant. Wendy’s in Georgia is the product of Wissol Group’s partnership with the U.S. Overseas Private Development Corporation (OPIC) who provided USD 18.9 million in start-up financing.
The trade complex includes a Smart Café with full service, internet (WiFi) zone, pharmacy, bank branch as well as various types of shops. In total, besides Wendy’s and Smart, seven new businesses is operating in the same location. The place has a parking area of 4,500 square meters.
“The development of Wissol Group’s daughter companies is moving to a new phase,” said Soso Pkhakadze, Chairman of the Wissol Board of Directors. “Every detail in Smart and Wendy’s branches in Vake proves once again that the word “quality” is very important to the Group. We wanted to open a new branch before Easter, because now our customers have the most comfortable environment to do all their pre-Easter shopping in,” he said.
“The most valuable fact for Wissol Group is the creation of 300 job places in one day, which is very important for a company like Wissol Group, which always cares about the development of the country’s economy. Creating job places and employing as many people as possible is of course our contribution to the development of the Georgian economy. There was a time when only a few people worked at Wissol. But now, their number has exceeded the thousands.” Pkhakadze said.
The U.S. Government is mobilized to help U.S. businesses expand into emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad, says Richard Norland, United States Ambassador to Georgia. As he says, OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds. OPIC is providing financial facility to Wendy’s Georgia.
“Opening new Smart and Wendy’s branches in the Vake district is another chapter in a really important success story, which is bringing the service industry and the grocery industry to more Georgians and providing more jobs. These are young people who are trying to help build the Georgian economy as Georgia moves ever closer to Europe and the West,” said Norland.
“This is a very important partnership between three partners: Wissol Group, Wendy’s and the United States Government, which through OPIC provides some of the financial guarantees to make the project viable. We think that this is a successful model for continuing economic development in Georgia. The message today is that Georgia is open for business. Successful entrepreneurship like Wendy’s in Georgia will show other entrepreneurs that it is profitable to operate here and will make them interested in Georgia. And it will have a positive impact on the investment climate and economic growth overall. A USD 37 million investment is a serious step for the Georgian economy,” he added.
“The Wendy’s in Rustaveli is the biggest of the chain’s restaurants in the world, which is a very special status to have. And now we have the second biggest restaurant and again in Georgia, in Tbilisi,” said Yusuf Ramadan, Customer Service Director at The Wendy’s Company. “Wendy’s restaurants in Tbilisi are very special as their entertainment corners for children have no analogue anywhere in the world. So these are the first Wendy’s restaurants worldwide to host children as well. Furthermore, we appreciate that so many people are employed by Wissol Group. I do hope that this will be the start of great growth of the economy and growth on the personal level of the employees. At Wendy’s we feel very fortunate and lucky and are thankful for the very special relationship between Wendy’s, Wissol Group and Georgia,” he added.
The next Wendy’s restaurant will open in the capital’s Saburtalo district very soon, according to Wissol Group.
Wissol Group signed license agreements with Wendy’s Company in 2012 to develop restaurants in Georgia and Azerbaijan. The first Wendy’s restaurant in Georgia opened on 12 September, 2013, in Tbilisi, featuring a great-tasting, signature menu with made-to-order hamburgers, fresh-made salads, fries, chilli and Frosty desserts. The restaurant also features Wendy’s Café – serving 15 different kinds of premium quality coffee – along with Party and Game Zones.
As for the Smart supermarket chain, its development started in 2010 and it launched its first supermarket in Tbilisi at D. Aghmashenebeli Alley on 13th km in December of the same year. Supermarket chain has branches in Tbilisi and throughout the different regions of Georgia.
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