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Tue 21st Jan 2025 - Knoops reports festive like-for-like sales up 22%, expects to open sites in US and China this year |
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Knoops reports festive like-for-like sales up 22%, expects to open sites in US and China this year: Luxury hot chocolate shop brand Knoops has reported like-for-like sales in the UK were up 22% for the five weeks ended 29 December 2024 and expects to open sites in the US and China this year. The company said revenue growth of 79% year to date is on track to deliver the business plan for year ending March 2025 with annual UK revenue of circa £16m. Knoops has also appointed Andrew Gerrie, Lush co-founder and former chairman of Hotel Chocolat, as a non-executive director. He joins Julian Metcalfe, co-founder of Pret A Manger and founder of Itsu, and Alice Avis, previous chief executive and chair of the Sanctuary Spa Group, on the board. With the brand trading from 24 sites in the UK, construction underway in Norwich, and with further openings planned, Knoops footprint in Britain will grow to around 40 sites by year end 2025. Knoops said its Middle East operations and team are now established with its first store opened and 2025 will see the brand’s expansion in the region. The group added it is in advanced discussions for a Knoops footprint in China and America with stores slated to be operating in these territories in 2025. Knoops’ momentum builds on a strong first half year for the business, with a 13% rise in like-for-like sales and increased profitability across the business. William Gordon-Harris, chief executive of Knoops, said: “Lacklustre UK capital markets, strong initial sales data in the Middle East and demand from outstanding international partners gives confidence in our business plan. With an accelerating like-for-like growth in the UK stores as they mature, and a top UK team now in place, Knoops has the blueprint for its international growth model. I am delighted to welcome Andrew Gerrie to this exceptional board, whose experience and support will be invaluable in achieving Knoops’ ambitions. With an insatiable addressable market, Knoops is set to be the global name for chocolate drinks.” Gerrie said: “It’s very rare to see an opportunity of the size and scale that Knoops has to define the chocolate drinks category. Combined with William’s vision and drive, I believe it is possible to build a once in a generation brand.”
Propel 500 report – hotel sector moving away from ownership and into the business of branding: Analysis suggests the hotel sector is 70% branded in the US and 30% in Europe, with the latter very much a target for the brands, writes hotel expert Katherine Doggrell in the introduction to the Propel 500 report – showcasing the UK’s 500 leading hospitality operators ranked by turnover. This is just one article in a report that is delivered in two parts: an introductory PDF, featuring deep dives into the top 25 companies and 6,500 words of insight from Propel’s expert writers, and a fully searchable Excel sheet, offering easy access to all the data. Together, the Propel 500 companies generate more than £30bn in turnover across 51,000 sites and the report spans seven key segments: pubs and bars, hotels, quick service restaurants (QSR), casual dining, cafe and bakery, experiential leisure and fine dining. A list of these operators can be discovered now by visiting the Propel 500 page on Propel’s website. This comprehensive report provides more than 90,000 words of analysis, delving into company histories, leadership structures, site numbers and financial performance, making it an essential resource for industry professionals. Further analysis includes Mark Wingett examining the mergers and acquisitions shaping the future of the Top 500, Tim Street’s view of the UK’s franchise market, and Phil Pemberton’s insights into experiential leisure as a hospitality cornerstone. Mark Bentley, business development director at HDI, identifies emerging growth sectors, and Maria Vanifatova, founder of Meaningful Vision, analyses trends in QSRs. Propel 500 is available now for £595 plus VAT. Existing Premium Club members can purchase it for £395 plus VAT. Premium Club members will receive the report for free on Friday, 28 February at 9am. Order the Propel 500 report today by emailing: kai.kirkman@propelinfo.com.
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