Sweet Tooth: Hotel Chocolat intake jumps 40 per cent as sales soar
Hotel Chocolat increased revenue by 37 per cent year-on-year in the second quarter, with the group seeing strong sales internationally.
Strong results for the quarter which ended in December 2021 lifted interim revenue by 40 per cent compared to the previous year, marginally outperforming the annual earning expectations of the company’s board.
In a trading update published today the British chocolatier revealed that while it had experienced growth of 38 per cent in the domestic market in the USA sales grew by 128 per cent while in Japan a joint venture achieved growth of 131 per cent. Hotel Chocolat said that since launching a VIP loyalty scheme in Japan 14 months ago, the database has grown by 1000 per cent to include over 100,000 active customers.
Angus Thirlwell, Co-Founder and Chief Executive Officer, said: “These results demonstrate that the Hotel Chocolat brand is connecting with more customers, as we invest continually in new product creativity, driving growth across channels and categories, and in our ‘gentle farming’ initiative supporting cacao-farming families.
“All of our six growth drivers are behind the acceleration in sales: Velvetiser in-home drinks system, VIP Loyalty rewards, and Digital, whilst the USA, Global Wholesale, and the Japan joint venture are finding the formula for sustained growth, and our UK domestic market still has huge potential,” she continued.
The trading update further revealed that results for the half year are up 56 per cent compared to the equivalent period in the financial year ended 28 June 2020, the last equivalent period prior to the impact of Covid-19.
The Board expects to announce the Group’s results in full for the six months ended 26 December 2021 on 2 March 2022.
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