Type Private Key people John Antioco, Chairman Founder Daniel J. Kim Motto Treat Yourself Well | Industry Restaurants Website www.redmangousa.com Founded 2002 Parent organization BRIX Holdings, LLC | |
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Products Frozen yogurt
Smoothies
Juices Headquarters Dallas, Texas, United States Profiles | ||
Red mango by mark calabrese
Red Mango FC, LLC is a frozen yogurt and smoothie brand known for its all-natural frozen yogurt, fresh fruit smoothies, yogurt parfaits, and fresh juices. There are now more than 200 locations in over 25 states in the United States and 100 in Mexico and Central America. In 2011, Red Mango was named the No. 1 Zagat Rated chain in America for smoothies and frozen yogurt. The brand even started running a vegan buffet chain in Hong Kong, in 2015.
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Background
Daniel J. Kim, the company's founder, graduated from UC Berkeley’s Haas School of Business in 1998, and first worked as an investment banker with Donaldson, Lufkin & Jenrette. The first Red Mango store was opened in South Korea, in 2003. From 2003 to 2007, the chain expanded to 130 stores.
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.”
Expansion
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", and Kim noted: "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 planned to double their locations in 2011 and were 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 on or near college campuses; Kim noted: "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, International, based in Seoul, Korea, continues to expand under rights for Europe, Asia, and Africa, and 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.
Management
The company's investors and advisors include John Antioco (former CEO and Chairman of Blockbuster Inc.), Taco Bell, and Circle K Convenience Stores. The company, which currently has offices in 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 in early May 2009.
Products
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. As of July 2008, the company's lineup of frozen yogurt flavors consisted of Original, Pomegranate, Madagascar Vanilla, and a rotating variety of seasonal or specialty flavors. These include Green Tea, Mango, Banana, Nutty Potion, and Peanut Butter.
Red Mango’s frozen yogurt is topped with fruits (such as blueberries, mango, pineapple, and strawberries) and/or “fun and crunchy” items (such as almonds, graham cracker, organic granola, and mochi).