South Korea’s CJ Foodville opens its bakery in Mongolia
Bishkek (AKIpress) – CJ Foodville CJ Foodville’s Tous les Jours has opened two stores in Ulaanbaatar, Mongolia, stepping up efforts to become a global bakery brand, reported The Korea Times.
The company said Tuesday that it is the first local bakery to establish a shop in the rapidly emerging Asian economy where K-pop groups and actors command a huge fan base.
The two stores were opened under a “master franchise” contract, in which Tous les Jours hands over control of the franchising activities in the country to a Mongolian business partner. In return, Tous les Jours receives a percentage of revenue from its partner.
The bakery’s first Mongolian store was opened in downtown Ulaanbaatar on October 31. Its opening day drew more than 2,000 customers, generating over US$8,600 in sales, a CJ Foodville spokesman said. Tous les Jours set up its second shop at the Shangri-La Mall, Monday, attracting twice the number of customers it expected.
Besides Mongolia, CJ Foodville has 270 Tous les Jours stores in seven countries: Cambodia, China, Indonesia, Malaysia, Philippines, United States and Vietnam.
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