CU (store): Difference between revisions

CU
	Logo used since November 2017
	A typical CU store in Gwangju, South Korea
Company type	Subsidiary
Industry	Convenience stores
Founded	1990 ; 2012
Headquarters	South Korea
Number of locations	14,923 ; (as of 2020)
Area served	South Korea ; Mongolia ; Malaysia ; Kazakhstan
Owner	BGF Retail
Parent	BGF Group; FamilyMart (former)
Website	cu.bgfretail.com/en/index.do

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Revision as of 15:39, 4 November 2024

CU (Korean: 씨유; RR: Ssiyu) (KRX: 027410) is a South Korean convenience store chain owned and operated by BGF Retail. It was formed after FamilyMart's franchise license in South Korea expired.^[2]

History

In 1990, the Bogwang Group formed a license contract with FamilyMart to launch convenience stores under the FamilyMart brand in South Korea.^[3] The first FamilyMart in South Korea opened in October 1990.^[4] On December 1, 1994, the Bogwang Group established a separate corporation; Bogwang FamilyMart (now the BGF Group) to oversee its convenience store operations division.^[5] The chain enjoyed steady growth, reaching 2,000 stores in 2003 and 5,000 stores by 2010.^[6]

Bogwang FamilyMart officially changed its name to BGF Retail on June 8, 2012, and subsequently announced the launching of its new convenience store brand "CU".^[3] South Korea's FamilyMart was officially renamed to CU on August 1, 2012, along with the opening of the first store utilizing the new name.^[7] The change came as BGF Retail aimed to create a "Korean-style" convenience store and cease its payment of royalties to FamilyMart.^[8]

In April 2019, CU has started a delivery service, and magnified the service to 1000 stores in May.^[9]

in Oct 2024, Convenience store CU announced that it has introduced the industry's first door-to-door home delivery service.^[10]

Foreign operations

Iran

CU launched its first foreign store in November 2018, in Tehran, Iran. However, the store had not even operated for a month when it had to close because of the United States' sanctions against Iran.

Kazakhstan

The first store opened in March 2024 in Almaty. In general, the project provides for the opening of about one hundred CU shops in Kazakhstan at the first stage. By 2029, BGF Retail plans to open 500 outlets in Kazakhstan and is also considering entering neighbouring markets.^[11]

Malaysia

CU opened its first stores within Malaysia in 2021, after reaching a partnership with local convenience store company myNews Holdings Bhd. CU plans to open 500 stores within Malaysia by 2026; the group will initially open 30 to 50 CU stores and assess their sales performance before expanding further. In April 2021, CU opened its first store in Centerpoint Bandar Utama.^[12]^[13]

Mongolia

CU has opened 304 stores in Ulaanbaatar, 1 store in Darkhan-Uul, Mongolia, as of December 2022. Also, they planned to expand the number of branches from 200 to 240 by the end of the 2022. CU competes with another Korean convenience chain, GS25, which has 124 stores throughout the capital region.

Brazil

Since 2024, there has been a version of the CU brand operating in an unlegalized way in the Liberdade neighborhood of São Paulo, Brazil. The store uses old aesthetic foods from the Korean brand.

Gallery

Logo used until August 1, 2012
Logo used from August 1, 2012, to November 2017

Notes

^ As the South Korean branch of FamilyMart

References

^ "엇갈리는 편의점 '빅2' 실적...점포수 앞선 CU, 실적도 GS25 추월하나". 11 November 2021. Retrieved 24 October 2024. 실제 지난해 말 기준 CU의 점포 수는 1만4923개로 전년 말 대비 1046개 늘어 1만4668개인 GS25를 235개 차이로 제치고 1위로 올라섰다. [In fact, as of the end of last year, CU had 14,923 stores, up 1,046 from the end of the previous year, beating GS25's 14,668 by 235 stores and taking first place.]
^ "[사진]훼미리마트, '씨유(CU)'로 브랜드명 변경". Money Today [ko] (in Korean). 2012-06-18. Retrieved 2024-03-12.
^ ^a ^b "22년 훼미리마트 간판, 'CU'로 바뀐다". Naver News (in Korean). Retrieved 2024-03-12.
^ "국내 편의점 5만5천개 넘어서". 이코노텔링(econotelling) (in Korean). 2024-01-15. Retrieved 2024-03-12.
^ "스카이데일리, [기업경영 기상도 ①BGF] 2세 경영 돌입… 장남 유통·차남 신소재 이끈다". www.skyedaily.com. Retrieved 2024-03-12.
^ "훼미리마트 점포수 5000개 돌파". The Korea Economic Daily (in Korean). 2010-08-16. Retrieved 2024-03-12.
^ "훼미리마트, 한국형 편의점 'CU'로 재탄생". 아시아경제 (in Korean). 2012-08-01. Retrieved 2024-03-12.
^ "'훼미리마트'대신 점령한 CU…이유는". Money Today [ko] (in Korean). 2012-09-20. Retrieved 2024-03-12.
^ 강, 인선 (14 May 2019). "CU, 전국 1000여개 점포에서 배달 시작 - 매일경제". Maeil Business Newspaper (in Korean). Retrieved 2019-05-17.
^ "CU, 집 앞까지 찾아가는 '방문 택배 서비스' 출시". Yonhap News. 2024.
^ "CU opens first store in Kazakhstan". Korea JoongAang Daily. March 7, 2024.
^ "MyNews to operate South Korea's CU stores in Malaysia". The Edge Markets. October 12, 2020.
^ Lee, Faye (April 1, 2021). "myNEWS Launches The First CU Convenience Store And Expects To Break Even Within 3 Years".

External links

(in Korean) BGF Retails and CU Archived 2014-08-01 at the Wayback Machine
(in Korean) CU opens 9000th store in South Korea
(in Mongolian) CU Mongolia official page
CU opens first overseas store in Iran

This article about a South Korean company is a stub. You can help Wikipedia by expanding it.

[1] As the South Korean branch of FamilyMart

[2] "엇갈리는 편의점 '빅2' 실적...점포수 앞선 CU, 실적도 GS25 추월하나". 11 November 2021. Retrieved 24 October 2024. 실제 지난해 말 기준 CU의 점포 수는 1만4923개로 전년 말 대비 1046개 늘어 1만4668개인 GS25를 235개 차이로 제치고 1위로 올라섰다. [In fact, as of the end of last year, CU had 14,923 stores, up 1,046 from the end of the previous year, beating GS25's 14,668 by 235 stores and taking first place.]

[3] "[사진]훼미리마트, '씨유(CU)'로 브랜드명 변경". Money Today [ko] (in Korean). 2012-06-18. Retrieved 2024-03-12.

[:0-4] "22년 훼미리마트 간판, 'CU'로 바뀐다". Naver News (in Korean). Retrieved 2024-03-12.

[5] "국내 편의점 5만5천개 넘어서". 이코노텔링(econotelling) (in Korean). 2024-01-15. Retrieved 2024-03-12.

[6] "스카이데일리, [기업경영 기상도 ①BGF] 2세 경영 돌입… 장남 유통·차남 신소재 이끈다". www.skyedaily.com. Retrieved 2024-03-12.

[7] "훼미리마트 점포수 5000개 돌파". The Korea Economic Daily (in Korean). 2010-08-16. Retrieved 2024-03-12.

[8] "훼미리마트, 한국형 편의점 'CU'로 재탄생". 아시아경제 (in Korean). 2012-08-01. Retrieved 2024-03-12.

[9] "'훼미리마트'대신 점령한 CU…이유는". Money Today [ko] (in Korean). 2012-09-20. Retrieved 2024-03-12.

[10] 강, 인선 (14 May 2019). "CU, 전국 1000여개 점포에서 배달 시작 - 매일경제". Maeil Business Newspaper (in Korean). Retrieved 2019-05-17.

[11] "CU, 집 앞까지 찾아가는 '방문 택배 서비스' 출시". Yonhap News. 2024.

[12] "CU opens first store in Kazakhstan". Korea JoongAang Daily. March 7, 2024.

[13] "MyNews to operate South Korea's CU stores in Malaysia". The Edge Markets. October 12, 2020.

[14] Lee, Faye (April 1, 2021). "myNEWS Launches The First CU Convenience Store And Expects To Break Even Within 3 Years".

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 === Brazil ===
+Since 2024, there has been a version of the CU brand operating in an unlegalized way in the Liberdade neighborhood of [[São Paulo]], [[Brazil]]. The store uses old aesthetic foods from the Korean brand.
-In October 2024, a previously operating [[ramen]] shop in [[Liberdade (district of São Paulo)|Liberdade]], [[São Paulo]] named "Rappa Ramen" rebranded as a CU store.<ref>{{Cite Instagram | user=c.u_brasil | postid=DBCCBBkPgpy | title=O Rappa Ramen que você conhecia agora também é C.U! | language=pt-br | trans-title=The Rappa Ramen you knew is now also C.U! | date=2024-10-12 | access-date=2024-11-03 }}</ref> This rebrand went [[viral phenomenon|viral]] online, as "[[:wikt:cu#Portuguese|cu]]" is a slang term for "anus" in Portuguese.<ref>{{Cite web | url= https://revistapegn.globo.com/ideias-de-negocios/noticia/2024/10/cu-na-liberdade-rede-coreana-de-conveniencia-inaugura-primeira-unidade-no-brasil.ghtml | title='CU na Liberdade': rede coreana de conveniência inaugura primeira unidade no Brasil | lang=pt-br | date=2024-10-29 | website={{ill|Pequenas Empresas & Grandes Negócios|pt}} }}</ref> The store uses the old (2012–2017) aesthetic elements from the Korean brand.
 == Gallery ==