Subway® Expands into Mongolia via Partnership with Tavan Bogd Group

First restaurant will open today in Ulaanbaatar

Ulaanbaatar, Mongolia (July 5, 2024) - Subway®, one of the world's largest restaurant brands, has signed a master franchise agreement with Juulchin LLC, a subsidiary of Tavan Bogd Group, to introduce Subway to the Mongolian market. To celebrate the occasion, today, Juulchin LLC opened its first Subway location in Ulaanbaatar, and, under the agreement, has plans to open nearly 50 restaurants across the country over the next decade.

Established in 1995, Tavan Bogd Group is a Mongolian conglomerate with interest across several industries, including manufacturing and financial services, as well as restaurant, tourism and hospitality. The group's leadership team has extensive experience managing and growing global QSR brands in Mongolia, and expert knowledge of consumer trends, behaviors and preferences in the market.

"Asia-Pacific is an important region for our international expansion efforts, with untapped markets and increasing consumer demand for Subway. The potential for growth is substantial," said John Chidsey, CEO of Subway. "Tavan Bogd Group is a proven development leader in Mongolia and, along with opening the very first Subway in the country, will help introduce the Subway brand to new guests in a new area of the world."

"As the demand for QSR increases in Mongolia, so does the desire amongst young Mongolian consumers for choices that align with a more balanced diet," said Tsagaach Baatarsaikhan, President and CEO of Tavan Bogd Group. "We are excited to leverage our QSR experience and partner with Subway to offer freshly made, delicious menu options that cater to the consumer trends and preferences in the market."

Since 2021, Subway's master franchise agreements across Europe, the Middle East and Africa, Latin American and the Caribbean and Asia Pacific, have resulted in more than 9,000 future restaurant commitments. In Asia Pacific, Subway has opened nearly 1,000 new restaurants in the past three years and continues to seek strong partners with expertise in local markets as it works to increase its current network of restaurants by an additional 25% in the next five years.

About Subway® Restaurants

As one of the world's largest quick service restaurant brands, Subway serves freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, across more than 100 countries and territories in nearly 37,000 restaurants every day. Subway restaurants are owned and operated by Subway franchisees - a network that includes thousands of dedicated entrepreneurs and small business owners - who are committed to delivering the best guest experience possible in their local communities.

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