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  • 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 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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