Premium chocolate brand Godiva has taken the step to partner up with supermarkets in the UK, North America and other major markets in a bid to enter the mainstream retail sector and become a brand that’s worth $2bn.
The brand, which is a Yildiz-Holding owned brand, is set to enter Sainsbury’s over in the UK, Albert Heijn in the Netherlands, while agreements have been made with supermarkets in North America, China, Turkey, Saudi Arabia and Sweden for the company’s new Godiva Masterpieces range, but for now, the names of these supermarkets are being kept undisclosed.
Previously in the UK, Godiva was only present in the UK through their own stores – of which, there were 12 – and in top end, premium retail outlets such as John Lewis, Harrods and Selfridges, so this move takes Godiva products somewhat out of their usual habitat.
The main reasoning for this is that Godiva are striving to become a $2bn brand as recently as 2022, and while the company flatly refused to disclose their current revenues, they are fully expecting their sales to double as a result of moving into the mainstream retail sector.
To date, Godiva is present in over 100 countries, and distributes in global travel retail, specialty stores, online, department stores, and 800 boutiques.
According to Kanter Worldpanel, Sainsbury’s is the second largest supermarket in the UK by revenues, with a 12.8% market share for the 12 weeks ending August the 13th 2017, and as such, Godiva Masterpieces will be rolled out in 500 stores across the UK.
Godiva’s decision to move into the mainstream supermarket sector in the UK and North America – amongst other countries – mirrors the same decision that their rival Lindt made, and since Lindt opted to go down that path, they’ve had substantial revenue growth which has seen them outpace the overall chocolate market.