Financial results
Knoops strikes chocolate gold with Wonka movie tie-in
A spokesperson for the company said the business has medium-term domestic ambitions to open 200 stores across the UK after reporting an operating EBITDA increase of 433% - or 309% on an LFL basis - to £192,748 in trading for the six months to 30 September 2023.
Current trading continues to be strong with excellent consumer demand for barista-prepared hot chocolate drinks in-store and Knoop's chocolate flakes at home in the run-up to Christmas, it said in a statement.
Chocolate flake sales have more than doubled last year, up 139% YTD, with hot chocolate selection boxes a bestseller for Christmas so far, up 197% YTD. The company also enjoyed its best online sales day of the year on Black Friday with gifting sales up 162% on last year.
The business will now press ahead with its 12-month pipeline of an additional 20 openings from April 2024, targeting major cities and university towns, with medium-term domestic ambitions for 200 stores across the UK.
In 2024, the company plans to expand internationally and believes it will have 3,000 stores worldwide by 2030.
William Gordon-Harris, executive chairman and CEO of Knoops, said: “These are hugely exciting times for Knoops, and our financial performance illustrates the outstanding growth that we are achieving as our stores continue to showcase the joy of drinking chocolate throughout the year with customers of all ages.
“Not only are we creating a market for exceptional chocolate drinks on the high street, but our chocolate flake range means that our customers can enjoy Knoops at home, just as they do with coffee. There is so much depth to the market given the broad appeal of our product and the scalability of this business, and we’re more ambitious than ever before for the future of Knoops both here and abroad.”
Gordon-Harris also said that in only four years, the firm has gone from its original site in Rye, East Sussex, to being selected as the brand partner of choice for Wonka, one of the year's biggest films. “We’re well placed for our best Christmas ever with record sales throughout November, continuing into December.”
