Suppliers to Subway will be rubbing their hands with glee after one of the company’s top executives confirmed today that it plans to massively accelerate European store openings over the next 12 months.
Assistant regional director, Mike Charest, told Bloomberg that the deli sandwich specialist aims to open between 800 and 1,000 new locations in Europe during 2014, potentially adding 20% to the size of its estate.
The news is also significant for the fact that it would signal a doubling of the rate at which Subway has been opening stores during the recession. For the last two years, the US-based company has launched 500 outlets a year in Europe.
Bloomberg said the UK was at the “top of the list” for growth in Europe, with a goal to have 2,000 outlets by 2015. It currently has just over 1,500 having added 63 so far in 2013.
“Europe is the strongest, fastest-growing international market for Subway outside of North America and will continue to be,” Charest said in the interview.
He added that the company’s strategy “works for us regardless of economic situation” by balancing affordability with high quality food.