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Knoops poised for accelerated growth following strong UK sales

The 15-store premium drinking chocolate and coffee chain plans to double its store footprint in 2024 following robust sales growth over the last 18 months

Knoops currently operates 15 stores across the UK | Photo credit: Knoops


UK-based premium chocolate and coffee chain Knoops has reported ‘outstanding growth’ following strong 18-month sales. 

Knoops, which operates 15 UK stores alongside e-commerce and wholesale channels, achieved 67% year-on-year revenue growth in the 12 months ended 31 March 2023 to reach £4.4m ($5.6m). Operating EBITDA rose 206% to £269,093 ($341,111). 

Cold beverages achieved 39% sales growth on a same-store basis throughout the year, peaking at 101% in July 2022. 

Sales in the six months ended 30 September 2023 increased 90% to £3.3m ($4.2m), with operating EBITDA rising 433% to £192,748 ($244,334). 

Knoops plans to double its store footprint in 2024, backed by an £8.3m ($10.4m) investment round closed in November 2023. The funding leaves the business debt-free and positioned for higher profits in 2024, Knoops added. 

The chocolate and coffee chain will open new stores in Edinburgh, Leeds and Exeter in the first quarter of next year and plans to add at least 20 new sites in the 12 months starting April 2024. Knoops, which has a longer-term goal of reaching 200 UK stores, is also planning to expand internationally next year. 

“Our financial performance illustrates the outstanding growth that we are achieving as our stores continue to showcase the joy of drinking chocolate throughout the year with customers of all ages. There is so much depth to the market given the broad appeal of our product and the scalability of this business, and we’re more ambitious than ever before for the future of Knoops both here and abroad,” said William Gordon-Harris, CEO, Knoops, 

Knoops offers an in-store customisable hot and iced drinking chocolate range alongside an espresso-based coffee menu.  

Alongside its store network, Knoops sells its products online via its own website and e-commerce giant Amazon. Of its non-store retail sales, 53% is currently generated from the Knoops website, 31% from Amazon and 16% from wholesale channels. The company’s premium wholesale partners include Harrods, Selfridges and Whole Foods. 

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