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Tag: Godiva

  • Maxim’s Overhauls Brand Strategy to Win Younger Asian Consumers

    Maxim’s Overhauls Brand Strategy to Win Younger Asian Consumers

    Maxim’s Food Group is overhauling its branded product strategy across Hong Kong and regional markets to target Gen Z consumers over the next 15 years. The initiative focuses on core festival sales periods, including Mid-Autumn Festival, Chinese New Year and the Dragon Boat Festival, where younger shoppers show shifting buying habits.

    Carmen Chiu, director of branded products at the Hong Kong-headquartered food and restaurant group, is leading the transformation. Chiu previously directed brand expansion for Godiva across Asia between 2012 and 2019, scaling the chocolatier from 30 stores to an opening rate of roughly one new shop per week across Mainland China and the wider region.

    The 80-20 Localization Rule

    Chiu runs brand adaptation on an explicit ratio: 80 percent global brand consistency in look, packaging and tone, with 20 percent dedicated to local market adjustments. At Godiva, low per-capita chocolate consumption across Asia forced a pivot from boxed gift sales into in-store cafes and soft-serve ice cream to build direct trial.

    A similar playbook governed Chiu’s regional rollout at British retailer Fortnum & Mason. The 315-year-old grocer adjusted tea storytelling and fine-tuned product recipes, altering sweetness and saltiness levels to match local palates while keeping core British store aesthetics intact.

    Preserving Festival Demand for Gen Z

    Heritage food brands across East Asia face an aging buyer base as legacy gifting habits weaken among younger demographics. Maxim’s relies heavily on seasonal bakery and gift box lines, where older cohorts remain loyal but younger consumers demand digital engagement and faster product iteration.

    Maxim’s is now testing new product segmentation, alternate distribution channels, and social media touchpoints integrated with artificial intelligence tools. The next phase will measure how these packaging and channel changes perform across Hong Kong retail shelves during upcoming seasonal festival cycles.

  • 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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  • Godiva New York City store a launchpad for Global Dominance

    Godiva New York City store a launchpad for Global Dominance

    The Godiva New York City store not only presents the newest store look, it serves as a launching pad for the brand to expand into new product categories, part of the brand’s larger global strategy in achieving a fivefold growth plan in the next six years. By the end of the year, 10 more cafes are slated to open in New York State, and the plan is to launch more than 400 locations in the Americas.

    “This is a very pivotal time for Godiva as we transition to align with the ever-changing consumer behavior,” said Godiva Chocolatier CEO Annie Young-Scrivner. “We have an aggressive growth plan for the next six years, which includes expanding our footprint of 2000 cafes worldwide with a focus on growth in the Americas.”

    Godiva’s cafes have seen international success, with locations currently open in Japan, China, Belgium and the Middle East. In February, the company sold its retail and distribution operations in four markets – Japan, South Korea, Australia and the future rights to develop New Zealand – to private equity company MBK.

    The overall concept has shifted with the Godvia New York City location, featuring a refreshed design and a wide array of new menu items that will shape and be replicated in the course of expansion over the next few years.

    “Godiva’s plan to open more cafes is a smart move from a customer loyalty perspective,” said Clarus Commerce CEO Tom Caporaso, a loyalty program expert with 20 years of experience. “One of the greatest assets that brick and mortar brands like Godiva have is their physical real estate, and adding a refreshed component to the in-store experience will create renewed excitement for both long-standing and new customers.

    “The chocolatier has already established itself as a premier brand for special occasions, but these eateries now also allow it to be a staple in its customers’ everyday lives. This will help create a deeper, more meaningful connection to the brand, and build consumer loyalty over time.”

    The Godiva New York City store not only presents the newest store look, it serves as a launching pad for the brand to expand into new product categories, part of the brand’s larger global strategy in achieving a fivefold growth plan in the next six years. By the end of the year, 10 more cafes are slated to open in New York State, and the plan is to launch more than 400 locations in the Americas.

    “This is a very pivotal time for Godiva as we transition to align with the ever-changing consumer behavior,” said Godiva Chocolatier CEO Annie Young-Scrivner. “We have an aggressive growth plan for the next six years, which includes expanding our footprint of 2000 cafes worldwide with a focus on growth in the Americas.”

    Godiva’s cafes have seen international success, with locations currently open in Japan, China, Belgium and the Middle East. In February, the company sold its retail and distribution operations in four markets – Japan, South Korea, Australia and the future rights to develop New Zealand – to private equity company MBK.

    The overall concept has shifted with the Godvia New York City location, featuring a refreshed design and a wide array of new menu items that will shape and be replicated in the course of expansion over the next few years.

    “Godiva’s plan to open more cafes is a smart move from a customer loyalty perspective,” said Clarus Commerce CEO Tom Caporaso, a loyalty program expert with 20 years of experience. “One of the greatest assets that brick and mortar brands like Godiva have is their physical real estate, and adding a refreshed component to the in-store experience will create renewed excitement for both long-standing and new customers.

    “The chocolatier has already established itself as a premier brand for special occasions, but these eateries now also allow it to be a staple in its customers’ everyday lives. This will help create a deeper, more meaningful connection to the brand, and build consumer loyalty over time.”

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  • Godiva sells Asia business to South Korea’s MBK for $1bn

    Godiva sells Asia business to South Korea’s MBK for $1bn

    Belgian chocolatier Godiva has sold select assets to MBK Partners as part of a global strategy to grow the business fivefold. Under the terms of the transaction, MBK will purchase the retail and distribution operations in four of Godiva’s more than 100 markets: Japan, South Korea, Australia and the future rights to develop New Zealand. The transaction, anticipated to close mid year, includes consumer packaged goods (CPG), digital commerce, travel retail (for Japan and South Korea) and more than 300 retail stores, as well as the Godiva production facility in Brussels that supplies product to these markets. All remaining 100-plus markets will continue to be owned and operated by Godiva.

    While the terms of the deal were not disclosed and completion is conditional on the necessary approvals, once settled Godiva Chocolatier will retain exclusive brand ownership in all global markets, granting a perpetual license to MBK Partners. Godiva will continue to source its products from the Belgian facility together with the production facility it owns in the US, and its affiliate facilities in Istanbul, Turkey.

    “Since 2008, we have been very pleased with the performance of Godiva, having nearly doubled its revenue and the number of stores operating globally, and we continue to see tremendous upside for this brand moving forward,” said Murat Ulker, chairman of Godiva’s owner Yildiz Holding.

    “Realising the potential ahead, together with Godiva leadership, we conducted a strategic review to explore new ways for generating the necessary cash flow to fuel the robust growth. This transaction is an ideal solution that provides the momentum to fuel expansion in other high potential areas of our portfolio.”

    “We believe this deal is a win-win for everyone,” added Godiva CEO Annie Young-Scrivner. “It gives us the financial flexibility we need to execute our fivefold growth strategy by accelerating efforts in new and existing markets and supporting the plan of opening of more than 2000 cafes globally, while preserving our Belgian legacy, quality, and craftsmanship that have helped to make our brand iconic.”

    Among Godiva’s various markets, Japan, South Korea, Australia and New Zealand collectively have some of the strongest brand equity and include more than 300 retail stores, making these regions the most compelling areas for monetisation. In Japan, Godiva has almost 90 per cent aided brand awareness and is the number one retail brand in the country, with the highest premium time spent in stores, according to 2017 research by the Nikkei Marketing Journal.

    At the same time, Yildiz sees significant unrealised opportunity for the brand that, when coupled with the infusion of capital, infrastructure and capabilities from MBK Partners, is expected to deliver a strong return on investment.

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  • Sydney to be home for Lindt’s first “premium chocolate” store

    Sydney to be home for Lindt’s first “premium chocolate” store

    Swiss chocolatier Lindt is ramping up its Australia retail expansion with the opening of its latest chocolate boutique in Sydney. Located in Sydney’s Macquarie shopping mall, the new boutique-style shop is filled with Lindt’s complete luxury chocolate range. However, with five stores already operating in the city, the new location is the first of its kind to offer a more “premium chocolate shopping experience”.

    The premium aspect includes an exclusive range featuring a new Gourmet Selection, which comes in seven flavours of premium roasted nuts and fruit coated in Lindt Chocolate.

    Likewise, the new shop offers a selection of specialty-crafted chocolate slabs with gourmet ingredients and a wide variety of Lindt’s signature pralines.

    Inside, Australian shoppers are encouraged to browse from the gift boxes on offer, which vary across three different sizes, before filling each with an assortment of Lindor balls and other Lindt chocolates, creating a quasi ‘Pick and Mix’ concoction, so each purchase can be custom made.

    There is also a Lindt Chocolate Bar, which offers a range of takeaway hot and cold drinks made with pure Lindt chocolate.

    “It is a great addition to our NSW Lindt Chocolate Shop locations and we know the shoppers at Macquarie Centre will enjoy indulging in the exclusive gourmet ranges on offer,” CEO Lindt Australia Stephen Loane told local media.

    The boutique store is surrounded by close to 400 international and national retailers to be shopped at Sydney’s Macquarie Centre, located in Sydney’s northern suburb of North Ryde.

    Lindt’s expansion comes at a time when rival chocolate retailer and café Max Brenner and its Australian arm has filed for bankruptcy.

    Max Brenner Australia, which was started in 1999 and is owned by Tom and Lilly Haikin, appointed voluntary administrators in early October citing rising costs and sluggish retail trade.

    On October 8, administrators McGrathNicol closed 20 of Max Brenner’s 37 stores.

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  • Yildiz Looking to Sell Godiva in Japan

    Yildiz Looking to Sell Godiva in Japan

    A sale of Godiva Japan is being considered which could value the business at US$1.5 billion.

    Parent Yildiz Holding is considering an offer which would allow it to use the proceeds to reduce debt and invest in other markets with larger growth prospects.

    Gidova Japan has annual sales of about $350 million a year.

    Yildiz Holdings was founded by Turkish brothers as a biscuit shop in 1944, acquiring Godiva in 2007 for $850 million. It now operates hundreds of Godiva cafes around the world as well as marketing Godiva-branded chocolate products, and its assets include UK brand McVitie’s biscuits.

    Unnamed sources said a formal sale process would commence within weeks.

    Prospective bidders include rival confectionery companies or private equity funds, along with Japanese trading groups.

  • US investor buys into Mitra Adiperkasa

    US investor buys into Mitra Adiperkasa

    US private-equity company General Atlantic has made its first investment in Indonesia by buying into lifestyle retailer Mitra Adiperkasa (Map).

    It has subscribed for Rp1.08 trillion (US$80.5 million) in bonds issued by Map which are convertible into shares in its F&B subsidiary Map Boga Adiperkasa (MBA), which runs Cold Stone Creamery, Godiva, Krispy Kreme, Pizza Express and Starbucks in Indonesia. It has more than 300 stores across 24 cities, and has more than doubled its store count over the past five years.

    Map runs multi-channel retail concepts in Indonesia across a diversified portfolio of department stores, sportswear, specialty fashion, F&B, and lifestyle products. It has nearly 2000 retail stores.

    “We believe the rapid rise in Indonesia’s middle and young working classes, the increase in this population’s disposable income, and the continued rural-to-urban migration represents an opportunity for us to strengthen our international food brands and cement our leadership position in the F&B market,” says Map CEO V.P.

    Sharma. A portion of the investment money will be used to accelerate the F&B division’s network expansion.
    “Indonesia’s domestic consumption comprises more than half of gross domestic product, and consumption patterns are increasingly shifting toward modern and aspirational lifestyle brands,” says General Atlantic Southeast Asia head Wai hoong Fock. “These secular trends position MBA’s food & beverage portfolio well for further expansion.”

    Regional commitment

    The partnership, General Atlantic’s first investment in Indonesia, indicates its commitment to long-term market prospects in South-east Asia,” says Fock, who joined General Atlantic from CVC Capital Partners last year to lead its South-east Asia investing program. He is based in the firm’s Singapore office.
    General Atlantic has 18 investment professionals in Asia, based in offices in Beijing, Hong Kong, Mumbai and Singapore. The firm opened its Singapore office in 2011, investing three years later in Singapore-based online mobile entertainment/communication Garena platform. It has also supported the growth of retail and F&B companies including lifestyle brand Tory Burch, luxury fashion brand Zimmermann, restaurant group Barteca Holdings, urban juice-bar concept Joe & The Juice, community accommodation marketplace AirBNB and transportation network company Uber.

    Map has 1921 retail outlets in 68 cities throughout Indonesia. Its retail concepts include department stores (Debenhams, Galeries Lafayette, Seibu and Sogo), fashion and lifestyle (Crabtree & Evelyn, Kipling, Lacoste, Marks & Spencer, Massimo Dutti, Nautica, Sephora, Swarovski, Topman, Topshop and Zara), sports (Converse, Golf House, Oakley, Payless ShoeSource, Reebok, Rockport, Skechers, The Athlete’s Foot and The Sports Warehouse), F&B (Burger King, Cold Stone Creamery, Domino’s Pizza, Godiva, Krispy Kreme and Starbucks), kids (Kidz Station and Oshkosh B’Gosh) and bookstore Kinokuniya.

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  • Godiva to Open the First Shop in Bangkok

    Godiva to Open the First Shop in Bangkok

    Months after popular ice-cream brand Ben&Jerry opened their first shop in Bangkok, looks like we will be able to continue to binge on new, sweet treats at Godiva.

    Godiva, the Belgian luxury chocolate store, announced it will launch its first shop in Bangkok at Groove, in CentralWorld.

    Selling an assortment of premium chocolates, biscuits and frappé drinks. Let’s hope they stock their famous chocolate-covered strawberries as well. Godiva has long been one of the premium edible souvenirs that Thai people buy for each other when traveling abroad.

    The opening date has not yet been confirmed.

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  • Lindt Aims to Surpass Godiva’s Chocolate Retail Network by 2020

    Lindt Aims to Surpass Godiva’s Chocolate Retail Network by 2020

    Lindt & Spruengli AG wants to overtake Godiva and become the world’s largest premium chocolate retailer by 2020.

    In pursuit of the goal, Lindt plans to open 20 to 30 shops each year, the Kilchberg, Switzerland-based maker of Lindor balls said in a statement Tuesday as it reported full-year profit growth in line with analysts’ estimates and raised its dividend 10 percent.

    Lindt, which has more than 300 shops, will need to accelerate its expansion plan to beat its larger rival, which runs more than 450 boutiques. The candy maker said it will use its store network to communicate with consumers, seeking prime locations and offering some products they can’t find elsewhere. Lindt added 50 stores last year, including 16 in Brazil, and retail sales rose more than 20 percent, faster than the company’s total sales growth.

    “If we continue with this pace, we’ll get there,” Chief Executive Officer Ernst Tanner said in an interview, adding that Lindt wants a “worldwide presence” while Godiva is “very strong” in certain markets such as North America and Japan.

    First-half organic sales growth will be slightly below the long-term target of 6 percent to 8 percent because of tougher comparisons to the previous year’s first half, Tanner said. Growth will be stronger in the second part of the year, he added. Lindt is not planning big price increases this year, and growth will be driven more by volume, he said.

    The stock fell 1.2 percent to 68,600 francs as of 12:46 p.m. in Zurich.

    Lindt will open its first shop in Moscow this year and add more stores in Brazil, France and the U.K., he also said.

    Earnings before interest and tax rose 9.4 percent to 518.8 million francs ($522 million). Analysts expected 519.6 million francs, according to the average estimate. Sales rose 7.1 percent on an organic basis.

    Lindt became the third-largest chocolate maker in the U.S. when it bought Russell Stover for 1.5 billion francs in 2014. North American sales rose 7.9 percent last year, slowing from 14 percent growth in 2014 as Russell Stover eliminated unprofitable products.

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