Knoops is planning to bolster its presence in the UK and in selected international markets after a “very profitable” year.
The premium coffee and drinking chocolate chain wants to almost double its UK estate from 24 stores to 40 in the next 12 months.
The chain currently has plans to open outlets in Cardiff, Norwich and York.
The brand is also “in discussions” to enter the US and China before the end of the year.
Knoops reported 22% like-for-like sales growth in the UK for the year ending 29 December 2024.
The business has forecast annual turnover will reach £16m for the 12 months ending 31 March 2025.
In March 2024, CEO William Gordon-Harris said he wanted to “build a billion-dollar brand” and “be the new Starbucks”.
In August 2024, Knoops secured an approval for £5m in fundraising to grow its retail and high street footprint. Of that sum, £1m came from a public Crowdcube investment campaign, and the rest came from fmcg industry veterans including Pret a Manger founder Julian Metcalfe.
The premium chain went on to raise £6m and a further £3.8m in November 2024 to support its expansion plans.
Former Hotel Chocolat chairman Andrew Gerrie joined Metcalfe on the board of directors shortly after.
“With 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,” said Harris.
“Andrew became an investor in Knoops last year and has been working with me to scope out the international focus that will inform the direction of the brand,” Gordon-Harris said on LinkedIn.
Gerrie added: “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.”
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