DURANGO, Colo. (AP) — Colorado-based Rocky Mountain Chocolate Factory Inc. is expanding into Japan.
The Durango-based candy company says it has signed a licensing agreement with a partner based in Hong Kong to add dozens of stores in Japan.
CEO Franklin Crail says a test Rocky Mountain Chocolate Factory store that opened in a Tokyo suburb has had strong sales. Other test stores are planned in Hong Kong and Shanghai this year.
Under the agreement, the licensee RMCF Asia will pay a licensing fee plus royalties on sales to Rocky Mountain Chocolate Factory. The agreement says at least 100 stores will be opened within 10 years.
The licensee gets the right of first refusal to acquire an exclusive master license to open stores in China, Taiwan and South Korea.