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Hotel Chocolat tastes sweet success

by LLB Editor
25th Feb 20 10:43 am

Upmarket chocolate brand Hotel Chocolat has reported an increase in sales in the year to 29 December 2019.

Pre-tax profits rose 7% from £13.8m in 2018 to £14.9m for 2019, while revenues were up 14% to £91.7m and the chain opened nine new stores in the UK.

“This was another strong period for Hotel Chocolat. Our new store openings contributed three percentage points of the growth in the period, with the remaining balance coming from existing locations, digital and wholesale channels,” said Hotel Chocolat’s co-founder and chief executive Angus Thirlwell.

He added that with sales coming from a greater range of channels, including digital, there were “some initial challenges in our supply chain.”

Andy Barr, retail expert and co-founder of online price tracking website www.alertr.co.uk  said, “Despite Hotel Chocolat being perceived as a relatively high-end brand in terms of chocolate, and with high street retailers taking yet more hits in recent months, it’s great to see them do so well thanks to such promotional activities as the VIP loyalty scheme and regular money-saving deals.

“Whilst other retailers across the UK are closing stores, Hotel Chocolat has clearly made the right decision in opening stores within different territories such as the US and Japan, and creating an affordable luxury that customers certainly need during the uncertain financial climate.”

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