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Tag: chocolatier

  • Cocoa Crisis Averted: Swiss Chocolatier Barry Callebaut Unfazed by Potential El Niño Impact

    Cocoa Crisis Averted: Swiss Chocolatier Barry Callebaut Unfazed by Potential El Niño Impact

    Swiss confectionery manufacturer, Barry Callebaut, anticipates that the cocoa market will remain stable, despite the potential emergence of a strong El Niño weather pattern in the upcoming months. This statement was made by the company’s Chief Financial Officer, Peter Vanneste, earlier this week.

    The United Nations weather agency recently announced an increased likelihood of a powerful El Niño weather pattern emerging soon. This weather phenomenon is known to significantly impact the cocoa industry and could potentially elevate global temperatures. However, Vanneste maintains a positive outlook, stating that the circumstances differ substantially from those experienced during the 2023 and 2024 cocoa market crises.

    Stability Amidst Uncertainty

    “Unlike the situation in 2023/2024, when El Niño coincided with the primary harvest season and triggered a third consecutive year of cocoa deficit, we are currently in a position of significant surplus,” Vanneste explained. “We have large volumes of cocoa stocks ready for the upcoming harvest season.”

    In addition to maintaining a strong surplus, Barry Callebaut, which supplies key chocolate industry giants such as Nestlé and Hershey, has fortified its resilience by diversifying its sources, enhancing its cocoa bean blending capabilities, and implementing several financial measures.

    Monitoring Market Trends

    Vanneste also noted that his firm is keeping a keen eye on cocoa grind data. This is a key indicator of chocolate demand, particularly important as they approach the second quarter of the year.

    Recent data from May shows a 39.7% year-on-year increase in cocoa grinding in the Ivory Coast, the world’s largest cocoa producer. “The expectation is for this trend to continue,” said Vanneste. “However, it’s important to remember that demand recovery will take time. This is something we will be closely monitoring moving forward.”

    Questions & Answers

    What is the potential impact of a strong El Niño on the cocoa industry?
    A strong El Niño weather pattern can have profound effects on the cocoa industry, often disrupting cocoa production and leading to a deficit in supply.

    How has Barry Callebaut prepared for potential market instability?
    Barry Callebaut has fortified its market stance through origin diversification, increased sourcing flexibility, enhancing its cocoa bean blending capabilities, and implementing financial measures.

    What is the significance of monitoring cocoa grind data?
    Cocoa grind data serves as a proxy for chocolate demand. Monitoring this data allows companies to effectively track and forecast market trends.

  • French Luxury Chocolatier La Maison du Chocolat Expands Korean Presence with New Pop-Up in Seoul’s Lotte Department Store

    French Luxury Chocolatier La Maison du Chocolat Expands Korean Presence with New Pop-Up in Seoul’s Lotte Department Store

    La Maison du Chocolat, a renowned French luxury chocolatier, is expanding its presence in South Korea, launching a new pop-up boutique in the central Seoul location of the Lotte Department Store Main B1.

    Expanding Partnership with Bluebell Korea

    This latest venture is in cooperation with Bluebell Korea, a notable distributor recognized for handling an assortment of luxury and premium labels throughout the broader Asian region. The partnership serves to introduce La Maison du Chocolat’s revitalized branding and retail design to the Korean market, using the pop-up boutique as an experimental platform for potential future growth.

    Exquisite Chocolate Selection

    The temporary store will exhibit a curated selection of La Maison du Chocolat’s signature offerings. Their variety of products range from truffles, chocolate tablets, and macarons, to a host of seasonal creations, offering a tantalizing treat for all chocolate connoisseurs.

    Brand History

    Established in 1977 by chocolatier Robert Linxe, La Maison du Chocolat has since been spearheaded by Nicolas Cloiseau, who stepped into his role as creative director in 2011. The brand made its debut in the Korean market in 2015, opening a boutique in the main branch of Shinsegae Department Store situated in Sogong-dong.

    Questions & Answers

    Who is the current leader of La Maison du Chocolat?
    Nicolas Cloiseau has led La Maison du Chocolat as its creative director since 2011.

    When did the brand first enter the Korean market?
    The brand made its first foray into the Korean market with a boutique in Shinsegae Department Store’s main branch in Sogong-dong in 2015.

    What products does the new pop-up boutique in Seoul offer?
    The boutique offers a range of La Maison du Chocolat’s offerings, including truffles, chocolate tablets, macarons, and seasonal creations.

  • Godiva completes sale of APAC operations

    Godiva completes sale of APAC operations

    Belgian manufacturer of gourmet chocolates, Godiva Chocolatier, has completed the sale of selected assets of its Asia Pacific business to South Korea’s MBK Partners.

    Godiva, a subsidiary of Turkey’s Yildiz Holding, said the deal with the private equity firm includes Godiva’s retail and distribution operations in Japan, South Korea and Australia as well as the future rights to develop New Zealand.

    The transaction also includes the Godiva production facility in Brussels that supplies product to these markets.

    No financial terms were disclosed, but according to a previous Reuters article about the announcement of the sale, the transaction could be worth between $1 billion and $1.5 billion.

    Godiva, which will retain exclusive brand ownership in all global markets, said the deal is in line of its global strategy to grow its business five-fold.

    Godiva said it is granting perpetual license to MBK Partners but will continue to own and operate the remaining markets in over 100 countries.Adtech Ad

    According to the chocolatier, it will maintain its R&D Center of Excellence in Brussels, Belgium, and will continue to source its products from the Belgian facility, the Godiva-owned production facility in the US and from its affiliate facilities in Istanbul, Turkey.

    The company previously announced it will use the proceeds of the sale to finance diversification, including an expansion of its cafe business from 20 stores to more than 2000 globally in the next six years.

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  • Morozoff coming back after 14 years

    Morozoff coming back after 14 years

    Making a comeback after 14 years, Japanese confectionery and chocolatier Morozoff has opened a stand-alone boutique at Plaza Singapura.

    It sells 90 per cent of Morozoff’s full range including chocolates, cookies and packaged baked goods such as madeleines.

    Founded in Kobe in 1931, the brand had been previously available in Singapore from 1984 at the Japanese department store Daimaru at Liang Court. After Daimaru closed in 2003, Morozoff left the market as well.

    This time round, Morozoff has been brought in by Uptron, the first foray into F&B by the electronics and gaming company that distributes across South-east Asia.

    Morozoff’s return is past of a new wave of Japanese food brands setting up in Singapore, including Maple Mania and Tokyo Milk Cheese Factory. The chocolatier has more than 1000 shops and 33 cafes in Japan and is also available in China, Hong Kong and Taiwan. The Singapore shop is its 19th overseas outlet.

    Uptron plans to open about 10 Morozoff shops and cafes in Singapore over the next few years. It also wants to take the brand to other Southeast Asian countries such as Indonesia, Malaysia, Thailand and the Philippines.

    Director/COO Girish Pradeep Tewani’s link with Morozoff goes back to his childhood when his father, Uptron’s founder Pradeep Kumar Tewani would bring its products home from his business trips to Japan.

    Uptron will be looking into setting up a central kitchen when it opens its cafes so it can produce Morozoff’s signature desserts Denmark Cream Cheese Cake and Custard Pudding.

    Many Japanese people live in Singapore, says Morozoff president Shinji Yamaguchi. “We recognise that our products may be more high end, but we see potential in Singapore because of the standard of living .”

    The company’s products are flown to Singapore at least once a week.

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