TL;DR
The Cheesecake Factory plans to expand its portfolio by opening a new fast-casual concept called Social Monk Asian Kitchen. The brand aims to have up to five Social Monk Asian Kitchens open and operating in 2018.
The Cheesecake Factory has reported that it is planning to expand its portfolio. According to a recent article in Nation's Restaurant News, the brand will begin these efforts by opening a new fast-casual concept called Social Monk Asian Kitchen. This offering allows the company to diversify its offerings and reach new markets.
“At some point we’ll get to that 300 number of Cheesecake Factories, and we’re trying to ready ourselves so we can continue growth. And we’re doing it ahead of time, so it will make an impact on our growth rate when we need it,” said CFO Matthew Clark.
The brand hopes to have up to five Social Monk Asian Kitchens open and operating in 2018.
In this story
This story was originally published in 1851 Franchise on August 6, 2018. Burnaze summarizes and links to the original reporting.
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