Hotel Chocolat looks beyond Europe and signs deal with Japanese corporation
Leading British chocolate brand Hotel Chocolat is looking beyond Europe after Brexit and has signed a new partnership with a major Japanese corporation.
The tabletop favourite has teamed up with the Tokyo-based Eat Creator Corporation, after trading in Japan for the last four years.
The chocolate maker reported a £9.4m loss for 2022 loss in an announcement last month but said “people are still treating themselves with affordable luxury” despite a cost of living crisis.
The luxury chocolate brand’s new agreement will help it grow in the country and it will hold a 20 per cent equity stake in the newly-created vehicle, including with royalties and revenue going straight into the coffers.
At least 20 Hotel Chocolat-branded stores will be created within the new deal and they will be supported by a database of over 200,000 Japanese customers.
Satoshi Nagasuna, Eat Creator Corporation CEO, commented: “Like many Japanese people, I have watched the positive impact that the Hotel Chocolat brand has made in our market over the last four challenging years.”
“When the opportunity presented itself to become directly involved with the business, we realised that our skills would be a good match with what was needed to take Hotel Chocolat Japan to the next level.”
Co-Founder and Chief Executive Officer of Hotel Chocolat, Angus Thirlwell, said: “Our new partner is well equipped to optimise the brand’s potential for Japan, bringing proven expertise, new capital and a natural alignment on brand values.”
“We are looking forward to combining the ingredients of Eat Creator with the ingredients of Hotel Chocolat into a powerful recipe for our next chapter in Japan.”