Luxury chocolatier Godiva has given up on its ambitious North American store network. expansion plan, and will close 128 cafes across the region.
The chocolate brand said the physical stores, including all 11 outlets in Canada, will close by the end of March.
Back in 2019, Godiva’s parent Yildiz sold stores in Japan, South Korea, Australia and New Zealand, to South Korean private-equity company MBK Partners.
The North American decision follows what the brand describes as changes in consumer shopping behaviour during the Covid-19 pandemic. Godiva also said it wants to shift its focus to retail food and pharmacy locations and online.
“Godiva is already available in many retailers in North America,” said Nurtac Afridi, CEO at Godiva. “We will continue to increase our presence there while always upholding the premium quality, taste, and innovation that we have been renowned for since we were founded in Brussels in 1926.”
In 2019, Godiva unveiled plans to open 2000 locations worldwide, with more than 400 planned in the Americas. Despite withdrawing from the region, Godiva will retain its retail operations in Europe, the Middle East and China.
