Knoops revenues up 23% since Christmas
The strong performance comes off the back of Knoops' best-ever Christmas period, with store revenue up 24% LFL and online revenue up 187% LFL in December 2022
Chocolate drinks expert Knoops has reported a 23% revenue increase on a LFL basis for the start of the year.
In addition to over-the-counter, barista-prepared drinks, sales of chocolate flakes in stores are continuing to perform strongly – also up 23% LFL.
Online sales in January were up 163% on last year – led by the hot chocolate selection box, which offers a choice of 10 different varieties of chocolate flakes.
The strong performance comes off the back of Knoops’ best-ever Christmas period, with store revenue up 24% LFL and online revenue up 187% LFL in December 2022.
The Christmas period coincided with the release of the successful Wonka film, for which Knoops was selected as the brand partner.
Across its stores, the company sold tens of thousands of its bespoke ‘Wonka winter-warmer’ hot chocolate drinks and its Covent Garden store – with its Wonka themed makeover – performed particularly well.
Knoops currently has 15 branches, including seven in London, and is planning to more than double in size again in 2024. Imminent new openings include two stores in Edinburgh in March, which will be followed closely by Leeds and Nottingham – as the trend for barista quality drinking chocolate follows coffee in taking root on British high streets.
Knoops is continuing to target major cities and university towns, with ambitions for 200 stores across the UK by 2027.
The company also has plans to expand internationally in the coming year and believes it has the ability to pass 3,000 stores around the world by 2030.
William Gordon-Harris, executive chairman and CEO of Knoops, said: “There is phenomenal momentum across the business as we begin what is set to be another exciting year for Knoops. We enjoyed an exceptionally strong Christmas trading period in our stores, online and through our wholesale partners.
“January has also been another record month, as more and more customers discover the joy a Knoops can bring. No doubt the trend towards Dry January has also played a part, as people swap alcohol for alternative affordable treats.”
He added: “Over the last three years to December 2023, our revenue has grown almost 12 times from our base year in 2020. We couldn’t be more delighted with the trajectory of the business, and are now putting an experienced and ambitious team in place for our next phase of growth.”