Godiva banks on China’s sweet tooth

By Agency Source:Agencies Published: 2012-6-11 23:35:09

Godiva, a maker of luxury Belgian chocolate, plans to double its boutique network in China in 2012 as consumers there develop a taste for fine cocoa.

The 86-year-old chocolatier is set to open about 15 shops in the country this year, bringing the total to about 30 in the three years since it expanded into China, Chief Executive Officer Jim Goldman said in an interview at the Chocovision conference in Davos, Switzerland. Godiva may have 100 Chinese stores in three to four years, he said.

"China is less than 5 percent of our revenue, but it's the fastest-growing piece of the puzzle," Goldman said.

China's chocolate market is set to see annual growth of 11 percent from 2010 to 2014, according to Mintel, a market research group.

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