Premium Global Chocolatier Godiva Announces First Entry into Mongolian Market
The stores will be located within popular shopping locations across Mongolian capital, Ulaanbaatar, and comprise multiple formats and sizes including new experiential concept stores.
Godiva’s ambition is to be a US$2 billion brand within the next five years. Already present in 100 countries globally with 750 stores, this is its first market entry into Mongolia and further delivers on the company’s growth strategy of targeting high potential economies.
The Godiva stores will operate under a franchise agreement with Tavan Bogd Group, one of the top business conglomerate in Mongolia and its largest employer.
Mongolia has a rapidly expanding, young population who have increasing levels of disposable income. Consumers will be able to try Godiva’s signature intense chocolate experience at its boutiques covering a wide range of products for gifting and every day consumption as well as its popular soft serve ice cream.
Maintaining its Belgian origin and nine decades of heritage, Godiva has built strong global growth platform and a wealth of knowledge about operating in different markets and understanding chocolate preferences across different cultures. Godiva entices customers with ingredients from many destinations around the world including Japanese Matcha, roots and flowers from China, macarons from France and spices and nuts from Turkey and the Middle East. Godiva also seeks to please its local markets with favourite tastes and milk chocolate flavours are expected to be particularly popular in Mongolia.
Murat Ulker, Chairman of Godiva said: “We are excited to bring our wonderful chocolate creations to consumers in Mongolia for the first time. This new venture with Tavan Bogd Group, who have significant experience in operating a wide portfolio of international brands, takes us another step closer to achieving our global brand ambition.”
Godiva’s first boutique will open in September this year at the Shangri-La Mall, a premium commercial complex located in the heart of Ulaanbaatar city.