Knoops: Boss reveals plans to become £4bn global giant
The boss of Knoops has outlined his plans to the grow drinking chocolate chain into a $5bn (£3.9bn) giant with at least 3,000 stores across the world.
William Gordon-Harris, who is both the chairman and chief executive of the London-headquartered business, said his revenue target is “readily achievable” when each of its hoped-for stores hit $1m (£785,260) in sales each.
That would be on top of a direct-to-consumer/wholesale and retail contribution of at least $500,000 (£392,625) from each location on average as well.
Gordon-Harris, in a post on LinkedIn, added that Knoops is aiming to operate at least 3,000 stores across the globe within a decade, with around 300 in the UK.
The long-term ambition of the business comes as Knoops opened its first store in Dubai recently.
Major names back Knoops as sales surge
In September, CityAM reported that Knoops had achieved a revenue of £9.3m for the year to 31 March, 2024, up from the £4.4m it posted for the prior 12 months.
Its operating EBITDA (earnings before interest, taxes, depreciation and amortisation) also surged by 264 per cent from £269,093 to £979,264 in the year.
Knoops currently runs more than 20 stores across the UK while it also sells chocolate flakes through its website and Harrods, Selfridges and Whole Foods.
The company counts Julian Metcalfe, the co-founder of Pret a Manger and founder of Itsu, and Alice Avis, the former CEO and chair of the Sanctuary Spa Group, as a board member.
Andrew Gerrie, the co-founder of Lush and former chair of Hotel Chocolat, is also an advisor-investor.
Gordon-Harris said: “The performance of the first Dubai store has been an important data point – giving us comfort on our model and strategy.
“Our plan is hugely dependent on attracting incredible new talent and nurturing existing colleagues. 2025 will see some big hires both in specific territories and in our global team.”
He added: “Knoops is a business where anyone can make a mark and grow and prosper and I can’t begin to tell you what it means to me to lead a brand where current employees thrive and where we have world class candidates interested in joining us and contributing and leading.
“This is a main ingredient in the recipe for those 3,000 stores and the many millions of new and existing happy customers.”