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Former Gamestop Exec to Open Red Mango Stores in Dallas County

Red Mango, one of the most popular and fastest-growing retailers of authentic nonfat frozen yogurt, has awarded its first Dallas-area development agreement.

FORMER GAMESTOP EXEC TO OPEN RED MANGO STORES IN DALLAS COUNTY


Fast-growing frozen yogurt retailer to open first stores in Dallas

DALLAS - (July 21, 2009) - Red Mango, one of the most popular and fastest-growing retailers of authentic nonfat frozen yogurt, has awarded its first Dallas-area development agreement.

Bill Chinn, a former senior vice president for GameStop, has signed a development agreement to open an undisclosed number of Red Mango stores in Dallas County including locations in the ilume shopping center at 4123 Cedar Springs Road in Dallas and at 2811 McKinney Avenue in Dallas.

Chinn first discovered Red Mango on a recent visit to South Korea, where the concept first got its start in 2002. He returned to Dallas to learn Red Mango USA had just announced plans to relocate its corporate headquarters to Dallas and decided the timing was right to invest in the brand.

"Dallas is my hometown and now it's Red Mango's hometown," said Chinn. "As a result of a great product, original branding, strong economics and an experienced Red Mango team, this company is set to achieve great things, particularly in our own backyard here in Dallas."

Chinn's first four stores are scheduled to open later this year, with a fifth expected for early 2010. Chinn plans to work full time at Red Mango. He previously served as senior vice president of stores for GameStop where he was responsible for more than 4,500 locations. With some 20 years of experience with the brand, he enjoyed growing a powerhouse chain and then realized the lure to be a business owner, himself.

"I recently completed the SMU Executive MBA weekend program where I realized that I am a true entrepreneur by nature," he said. "I reviewed dozens of concepts and Red Mango was head and shoulders above the rest. I'm looking forward to opening our doors in Dallas for the first time."

Red Mango opened its first store in Los Angeles in July 2007. Today the company has more than 50 locations open and expects to reach 80 stores by year's end.

Red Mango's rapid growth has been fueled by an aggressive franchise expansion program across the U.S. targeting business owners and entrepreneurs.

About Red Mango:

Founded in 2002 in South Korea, Red Mango opened its first U.S. store in July 2007 in Los Angeles and has since celebrated more than 50 store openings across California, New York, Washington, Illinois, Hawaii, New Jersey, Nevada, Indiana and Utah. Red Mango serves authentic frozen yogurt that is all-natural, nonfat, certified gluten free and packed with probiotic live and active cultures. Red Mango's frozen yogurt has been certified by the National Yogurt Association's Live and Active Culture Seal for meeting the required criteria for healthy frozen yogurt. Red Mango's investors include CIC Advantage Holdings LLC, a holding company formed by CIC Partners and leading retail and restaurant operators to invest in and add value to multi unit retail companies.

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