Growth Club
1851 Growth Club
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Godiva Opens New Café Concept in Manhattan, The First of 2,000 Planned U.S. Locations
The storied Belgian chocolatier is expanding beyond its signature creation with the rollout of a new cafe concept over the next six years.
In a move designed to increase its revenue fivefold by 2025, Belgian chocolatier Godiva is entering the restaurant industry. According to a recent Associated Press article, the brand is moving beyond chocolate to launch a new brick-and-mortar café concept that it plans to grow to 2,000 locations over the next six years.
Godiva’s first café location officially opened in Manhattan on Wednesday. According to the article, the brand’s foray into prepared meals as a vehicle for growth was spearheaded by CEO Annie Young-Scrivner, who joined the brand in 2017 after a stint at Starbucks.
While Godiva doesn't appear to be growing its new concept through franchising, this aggressive entry into the market by an established brand with strong recognition and money to spend shouldn't be taken lightly by other brands in the breakfast and lunch restaurant segment.
Read the full article here.
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