AlShaya Group, the retail giant holding the Starbucks franchise rights in West Asia, is set to lay off more than 2,000 employees as a consequence of dwindling consumer support stemming from the Gaza war-related boycotts. The impacted positions are primarily within the Starbucks franchise operating across the West Asia and North Africa. AlShaya, a key player in the retail landscape of the West Asia, operates various Western brand franchises besides Starbucks, including The Cheesecake Factory and Shake Shack. In recent times, AlShaya's Starbucks business faced potential investment interest from US private equity firm Apollo Global Management Inc. The boycotts, sparked by Israel's military actions in Gaza, have impacted Western brands operating in the West Asia.

Source: The North Africa Journal March 06, 2024 09:40 UTC