Despite having its headquarters in London, Knoops, the chocolate drinks retailer, now with 21 stores across the UK, started its life in Rye where founder Jens Knoops opened his first store just under the Landgate arch on Hilders Cliff, Rye in 2013. Since then there has been a mind-blowingly fast expansion and the company has just announced that its revenue climbed by 110% to £9.3 million in the year to March 2024. Knoops is now looking to raise an extra £5 million to fuel its continued expansion.
Knoops chief executive William Gordon-Harris said: “As the financial year results demonstrate, Knoops is rapidly building a stable, loyal and broad customer base across the UK – both on the high street and in people’s homes. Since the period end, Knoops has seen its like-for-like revenue increase by 15% as it opened a further four stores to take the total to 21. The company is now ring-fencing at least £1 million in a campaign via Crowdcube to allow its customers to join existing investors in a wider £5 million Enterprise Investment Scheme (EIS) fundraise.”
The company’s £1 million Crowdcube campaign, which was launched last Thursday September 19, forms part of the wider £5 million raise and the proceeds will be used to expand Knoops’ retail, wholesale and online business, including the opening of new stores, and to establish an international presence.
Knoops recently recruited two industry heavy-hitters to its board, Julian Metcalfe, the co-founder of Pret a Manger, and founder of Itsu and Alice Avis, the former CEO and chair of the Sanctuary Spa Group. Andrew Gerrie, the co-founder of Lush and former chair of Hotel Chocolat has also come on board as an advisor-investor.
Gordon-Harris said: “We will continue this growth by raising funds to open more stores in this country, increase our retail flakes production capacity, and start expanding internationally. Our first store outside the UK opens in Dubai next month, and we have big plans for rest of the world.
“We have listened to our customers and have directed a significant portion of our EIS fundraise via Crowdcube to allow as many people as possible to become Knoops owners.”
Image Credits: Nick Forman .