Red Mango, Inc.
|Founder||Daniel J. Kim|
|Headquarters||Dallas, Texas, US|
|Dan Kim, Chief Concept Officer
Miguel Foegal, President
|Products||All-natural frozen yogurt
|Slogan||Treat Yourself Well|
Red Mango, Inc., the U.S. subsidiary of the South Korean company , is a frozen yogurt and smoothie brand known for its all-natural frozen yogurt, fresh fruit smoothies, yogurt parfaits, and probiotic iced teas. There are now more than 190 locations in over 25 states in the United States. In 2011, Red Mango was named the No. 1 Zagat Rated chain in America for smoothies and frozen yogurt.
Daniel J. Kim, the company's Founder & Chief Concept Officer, graduated from UC Berkeley’s Haas School of Business in 1998, and first worked as an investment banker with Donaldson, Lufkin & Jenrette. Kim opened the first Red Mango store in South Korea in 2003. From 2003 to 2007, the chain expanded to 130 stores. The first store in the United States opened in Los Angeles near UCLA in July 2007.
According to the company website, Red Mango gets its name because “the mango, distinctly delicious and high in nutrition, becomes red at its optimal stage of ripeness.”
After opening their first store in California, Red Mango opened stores in Nevada, Utah, Washington, and New York. One year after the first store opened in Los Angeles, Red Mango opened 30 new stores. By the end of 2009, Red Mango had 60 stores in operation.
In the summer of 2010, Red Mango added 22 varieties of smoothies to their menu. They changed their signage to “Red Mango: Yogurt & Smoothies,” with Kim noting "it's really a fundamental shift of how we are defining ourselves in the business, away from the frozen-yogurt shop and really one that sells yogurt and yogurt-based products and smoothies." By the end of 2010, Red Mango awarded agreements for 147 locations and opened 62 new stores, bringing the total number of locations to 100. They were named #4 on Restaurant Business Magazine’s “Future 50” list of the fastest-growing chains in 2010. Red Mango plans to double their locations in 2011 and are currently on track to open 24 more stores in the first quarter alone.
In May 2012, the Dallas-based company entered into an agreement with Mexican theater chain Cinemex to introduce Red Mango products to Mexico. US expansion is planned to triple within a couple years.
They open many of their stores near college campuses, with Kim noting that "we found that nutritional awareness is very high near and around college campuses, so we decided to aggressively grow onto campuses by opening on them or near them." About 70% of Red Mango’s buyers are women.
Red Mango has recently entered Pakistan with an official launch event on 8 October 2013. Red Mango Pakistan is being franchised by TNN Pvt Ltd., the group behind Area 51.
Daniel J. Kim is the founder, and former president and CEO of Red Mango, Inc.. He was bought out in December 2009 and now holds the position of Founder and Chief Concept Officer. He is a graduate of UC Berkeley's Haas School of Business and is an alumnus of Delta Sigma Pi, Rho Chapter. He is a former investment banker.
The company's investors and advisors include John Antioco (former CEO and Chairman of Blockbuster Inc.), Dallas-based private equity firm CIC Partners, movie producer John Davis who is the son of Marvin Davis, movie producer Roy Lee, and Stone Canyon Venture Partners.
The company, which currently has offices in California, Arizona, Dallas, Texas and New York, New York, raised $12 million in private equity financing in August 2008 and moved its headquarters from Sherman Oaks, CA to Dallas, TX in early May 2009.
Red Mango uses 100% all natural, nonfat & lowfat, kosher, and gluten-free frozen yogurt fortified with probiotics. They were the first frozen yogurt store to be certified by the National Yogurt Association with the Live & Active Cultures seal, indicating the use of real yogurt. Currently, the company's lineup of frozen yogurt flavors consists of Original, Pomegranate, Madagascar Vanilla, and a rotating variety of seasonal or specialty flavors. These include Green Tea, Mango, Banana, Nutty Potion, and Peanut Buter.
Red Mango’s frozen yogurt is topped with fruits (which include strawberries, mango, blueberries, and pineapple) or “fun and crunchy” items (which include Fruity Pebbles, organic granola, graham cracker and in Japan they put mochi in replace of Fruity Pebbles
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