Expansion into 3 new markets

PRESS RELEASE
06.02.2014
Expansion into 3 new markets

Greek company’s growth in foreign markets recognised with “Best International Expansion” award.

Chillbox 100% greek frozen yogurt is boosting its presence in the demanding European market with a dynamic entrance into 3 new countries, Russia, Austria and Hungary. The expansion of chillbox stores is being achieved through franchise agreements to create new chain stores in shopping malls and high-traffic markets.

In Russia, a master franchise agreement with the company Dream Foods will see an estimated total investment of €4,000,000 in 30 new stores over four years. The first store will open at the new Bitza Park mall in February. Located on Moscow’s Large Ring Road with a total commercial space of 250,000 square metres, Bitza Park will function as a wholesale and retail market, attracting the interest of shoppers. Initial estimates by the management company are that the mall will receive 10,000,000 visitors a year; this prediction has been boosted by the news that Moscow’s famous traditional Luzhniki market will be moving there.

In Austria, a master franchise agreement worth €1,500,000 as been signed with the company Frozen Food for a network of 10 new stores. The first chillbox store opened on 31 January at Shopping City Sud, one of the biggest malls in Europe, which hosts major chains such as H&M, IKEA and McDonalds.

Located just 13 km from Vienna with commercial space of 270,000 square metres, the mall has 24,000,000 visits a year, giving the company the opportunity to introduce greek frozen yogurt to Viennese consumers and the large number of shoppers attracted to the mall from neighbouring countries (Slovenia, Slovakia and the Czech Republic), many of whom visited the store in its first few days.

The chillbox store in Hungary opened on 18 January, recording figures that confirm the bright prospects for greek frozen yogurt abroad. The store is run as a franchise operation by the company Greek Dream and is located in the Auchan Budaors mall in Budapest.

Chillbox S.A. was established in 2011, offering exceptional greek frozen yogurt in a great-looking store. Today, Chillbox S.A. has the largest network of frozen yogurt stores in Greece, with 56 outlets, plus 17 abroad. Chillbox’s foreign presence comprises France (1 store), the UK (1 store), Belgium (1 store), the Netherlands (1 store), Sweden (4 stores), Bulgaria (4 stores), Cyprus (2 stores), Austria (1 store), Hungary (1 store) and the Former Yugoslav Republic of Macedonia (1 store).

The expansion of the company’s presence into three new markets is boosting Chillbox’s international position and is raising the profile of Greek food among European consumers. In recognition of this steady growth by Chillbox’s international network, the company received the award for “Best International Expansion” in 2013. The prize was awarded on 29 January as part of the 6th Franchise Business Awards, held under the aegis of the Athens Chamber of Commerce and Industry, the National Confederation of Hellenic Commerce and the Greek Franchise Association.

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