GOYO LLC, which is one of the oldest cashmere producers in Mongolia has developed a new development policy which is aimed at expanding the operations and delivering quality products. In 2017, Mongolia's goat population reached 27 million, accounting for 47% of the world's cashmere or 9400 tons of raw cashmere, but only about 12% were processed into finished value-added products and 88% were only primarily processed and exported. GOYO LLC expects to increase the level of the processing of cashmere, increase the type of products to be produced, increase the quality of finished yarns and increase exports by investing 55 billion MNT or the US $ 22.5 million. With this investment, four new factories will be commissioned, the capacity of yarn factories and knitting factories will be increased, and the number of equipment will be upgraded as well.   In the previous years, we produced 80 tons of raw materials, 40 tons of yarns and 100,000-110,000 knitted yarns per year. During this year by opening new factories, we will have produced 400 tons of raw materials, 160 tons of yarns and 400,000 knitted yarns. In 2018 we will become a major producer in the cashmere industry with 5 times the capacity. By the end of 2017, we had 292 employees. Now with the new plants, expanding and capacities being increased, we will triple the labor force and by the end of 2018, there will be 972 employees. In doing so, GOYO is making a significant contribution of job plots which is currently one of the leading problems for the people in Mongolia   According to the development strategy plan, by 2021, national producer GOYO LLC and GOBI LLC will have provided jobs for 8000 people, each produced about 2,000 tons of raw material (4000 tonnes per year) and produced 3 million products each year, accounting for 40% of Mongolia's total raw cashmere preparation and 20% of the world cashmere market.

Pizza Hut Opens New Express Branch in Shangri-La Mall

On 6th of October, well-known brand Pizza Hut opened a new express branch at 4th floor of the Shangri-La Mall. During the opening ceremony, Mongolian first service robot “Sanbot” was introduced and entertained the crowd.

Premium Global Chocolatier Godiva Announces First Entry into Mongolian Market

The stores will be located within popular shopping locations across Mongolian capital, Ulaanbaatar, and comprise multiple formats and sizes including new experiential concept stores.   Godiva’s ambition is to be a US$2 billion brand within the next five years. Already present in 100 countries globally with 750 stores, this is its first market entry into Mongolia and further delivers on the company’s growth strategy of targeting high potential economies.   The Godiva stores will operate under a franchise agreement with Tavan Bogd Group, one of the top business conglomerate in Mongolia and its largest employer.    Mongolia has a rapidly expanding, young population who have increasing levels of disposable income.  Consumers will be able to try Godiva’s signature intense chocolate experience at its boutiques covering a wide range of products for gifting and every day consumption as well as its popular soft serve ice cream.   Maintaining its Belgian origin and nine decades of heritage, Godiva has built strong global growth platform and a wealth of knowledge about operating in different markets and understanding chocolate preferences across different cultures.  Godiva entices customers with ingredients from many destinations around the world including Japanese Matcha, roots and flowers from China, macarons from France and spices and nuts from Turkey and the Middle East. Godiva also seeks to please its local markets with favourite tastes and milk chocolate flavours are expected to be particularly popular in Mongolia.   Murat Ulker, Chairman of Godiva said: “We are excited to bring our wonderful chocolate creations to consumers in Mongolia for the first time. This new venture with Tavan Bogd Group, who have significant experience in operating a wide portfolio of international brands, takes us another step closer to achieving our global brand ambition.”   Godiva’s first boutique will open in September this year at the Shangri-La Mall, a premium commercial complex located in the heart of Ulaanbaatar city.

Godiva Chocolatier grand opening ceremony

With over 600 owned Boutiques and a presence in more than 100 countries world-wide, Godiva has celebrated its growth to Mongolian market at Shangri-La mall on September 14. Distinguished guests at the ceremony were Philippe Daue, Chef Chocolatier of Godiva, Carmen Chiu, Director of marketing and merchandising for China and Pacific Rim, managers, celebrities, businessmen and diplomats of Embassies in Mongolia. On the eve of the grand opening ceremony, Chef Philippe carried out training on technologies of the Godiva chocolates and methods of making chocolates with participation of celebrities, socialites and media representatives. Godiva opened its first boutique store on August 10 at Shangri-La mall and store operates in under franchise agreement of Tavan Bogd Trade LLC. Godiva is premium chocolatier which has over 100 branch stores around the world. The secret of Godiva is that they use high quality natural ingredients to make their products and store at perfect temperature in order to maintain its products fresh and moist.  


In the 2017 annual ranking of “TOP-1OO” business entities in the country by the government of Mongolia and the Mongolian National Chamber of Commerce and Industry, 5 of Tavan Bogd Group’s subsidiary and affiliate companies were included and won awards. The Group’s affiliates and subsidiaries had the following results: our affiliate, the leader in the financial industry of Mongolia, Khan Bank placed at 3rd, while the GOBI JSC, also an affiliate and one of the biggest 5 manufacturers of cashmere products in the world, placed at 18th, the Support Services Mongolia (SSM), a joint-venture of the Group and also one of the largest integrated logistics and catering companies in the country, placed at 46th, the Tavan Bogd LLC, a subsidiary and the official distributor of the world-famous Toyota Corporation, placed at 55th and the Ulaanbaatar Flour LLC, also a subsidiary and a dominant player in the flour production industry of Mongolia, placed at 84th in this year’s rankings.      The ranking takes specific considerations such annual sales revenues, total company assets and profits, number of employees and taxes paid to the government into consideration. Placing high in this year’s rankings, this marks Tavan Bogd Group and its affiliated and subsidiary companies’ 16-year-long consecutive ranking in the TOP-100 business entities of Mongolia. This illustrates the immense contributions the Tavan Bogd Group makes towards Mongolia’s economic and social development as well as its important role as a trusted partner and service provider to its customers.       Thankful for the conferral and acknowledgement, the Tavan Bogd Group will strive to continue to operate successfully and further to contribute to the nation’s future development.

Amarok has been inspected

Off-road testing of Amarok required a group of 18 men to use 6 Volkswagen trucks to complete the almost 15,000 km trek. While they are visiting Ulaanbaatar city, they passed the Volkswagen Service to check the cars and they continued their tour.