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Godiva indulges global coffee craving with café rollout
DECEMBER 16, 2018 | Financial Times by Andrew Edgecliffe-Johnson and Alistair Gray in New York.

Godiva, the Turkish-owned Belgian chocolate brand, is to roll out 2,000 cafés as part of a plan to multiply revenues fivefold over the next six years — the latest sign of a coffee craze in the global food and drinks industry..... to raise capital to fund the expansion, Godiva and its bankers at Morgan Stanley have been in talks with several potential strategic investors about a possible $1bn-plus transaction....The New York-based group already has 40 cafés, including an outlet in Harrods, London, after an initial pilot launched in Istanbul and Shanghai in 2010. Yet Ms Young-Scrivner, a former Starbucks executive, said the company believed coffee consumption would continue to grow and a larger chain of Godiva outlets was “a natural extension”. Coffee and tea, she said, “pair really well with chocolate”.....Godiva’s 1,500-2,500 sq ft cafés will start appearing in big cities around the world from next spring, when the first is due to open in New York. About a third of the outlets are planned for North America, a third in Asia and a third in the rest of the world. Their menus will feature hot chocolate, cookies, affogato, chocolate-dipped strawberries and croiffles, a sweet or savoury cross between a croissant and a waffle..........The second part of Ms Young-Scrivner’s plan includes expanding Godiva’s distribution in grocery stores. The company estimates its share of the US packaged chocolate market at just 2 per cent and plans to expand the distribution of its chocolate bars and packages aimed more at self-indulgent snacking than at the premium-priced gift market where it has long focused.

Godiva was watching with interest the growth of cannabis-infused chocolates and drinks, which has prompted several large consumer groups to explore investments in cannabis companies, but this was “not a priority” for the company, Ms Young-Scrivner said.
brands  cafés  chocolate  coffee  Godiva  high-end  rollouts  expansions  cannabis  self-indulgence 
january 2019 by jerryking
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