CU reaches 300 stores in Mongolia
The Korean brand celebrated the opening of its milestone location at the capital of the country as part of its plans to expand beyond its country of origin.
Korean convenience store chain CU celebrated the opening of its 300th location in Mongolia.
Located in the capital of UlaanBaatar, the new site offers a mix of various local snacks alongside typical food and beverages from South Korea. This milestone is part of the strategy planned by BGF Retail, owner of the brand on an international level, to expand its reach beyond its country of origin.
"Before we expanded our market into Mongolia, the idea of a convenience store did not really exist in the country," said Kim Seong-mo, a BGF's spokesperson, according to a report by news site Aju Daily. The firm is actively opening new stores across the region to achieve its plan of operating 500 locations outside of South Korea by the second half of the year.
Apart from its network in Mongolia, the company operates 130 stores in Malaysia and has diversified its portfolio of store formats throughout the years. During 2019, BGF Retail launched its mobile convenience store model in Mongolia, a site dedicated to selling beverages, snacks, instant food and sanitary products that is pretty common for Festivals and outdoor activities in South Korea.
