BGF Retail, operator of the South Korean CU convenience store chain, has announced an expansion of the brand into Kazakhstan. The company has partnered with local ice cream manufacturer Shin-Line to drive the chain’s growth across the country.
The first opening, set to become the first South Korean c-store in the Central Asian nation, is scheduled for the first half of 2024. BGF aims to establish a network of more than 500 outlets by 2029.
In addition, the master franchise arrangement comes as a result of Shin-Line’s ambition to expand beyond frozen products. The firm is currently the largest ice cream company in Central Asia, holding approximately 40% of the ice cream market in Kazakhstan.
This brand expansion has also seen a recent milestone, with the opening of the 300th CU convenience store in Mongolia. BGF Retail also currently operates over 130 locations in Malaysia as well and has diversified its portfolio of store formats throughout the years.
Apart from combining local food items and popular South Korean snacks in its stores, the company is also introducing different store formats across the countries in which it operates, such as its mobile convenience store model in Mongolia launched in 2019.
Source : PetrolPlaza