16:27 Peru experiences second franchise boom with more domestic brands
 

• Promperu’s export director, Juan Carlos Mathews. Photo: ANDINA/Norman Córdova

• Lima, Mar. 18 (ANDINA). According to market indicators, the country is experiencing its second franchise boom, but with greater participation of Peruvian brands that fit this model of business expansion, reported Peru's Export and Tourism Promotion Board (PromPerú).
  
  According to Promperu’s export director, Juan Carlos Mathews, the country experienced its first wave of explosive expansion in 1993-1996, 95 percent of franchises were foreign-owned, especially by US firms.
  
  "Data reveals that, during this period, the number of franchises doubled in 18 months, but then Peru and the whole world experienced difficult economic times as the Asian crisis and then all the progress stopped," he said. 
  
  He explained the domestic franchising market began to make a comeback in 2003, with 170 franchises operating in the country, of which 30 percent were Peruvian.
  
  (END)RBM/CSO/RMB