Since its acquisition by Turkish food manufacturer Yildiz Holding, Godiva Chocolatier has expanded its reach into new distribution channels and markets through premium product innovations featuring its upscale Belgian chocolate. Yildiz Holding, parent company of the privately held Turkish food manufacturer The Ülker Group, had purchased Godiva from Campbell Soup Co. in early 2008 for $850 million.

The acquisition has enabled Godiva to aspire to its full potential, CEO Jim Goldman says, thanks largely to Yildiz Holding chairman Murat Ülker, whom he calls “a visionary business builder." “Under new ownership, we have opted to broaden the footprint all over the world,” Goldman continues. Godiva currently has a presence in 60 countries, including China, where the company recently opened its first standalone store in a new geographical location in 10 years.

Moving forward, “we plan to expand quite dramatically in China,” Goldman notes, adding that it will launch the largest Godiva store in the world in Shanghai during the first quarter of 2010. The chocolatier just debuted a shop-in-shop with a duty-free customer in Sydney, Australia, and has strategic plans to expand in Turkey as well.

In addition to broadening its reach globally, Godiva is focused on growing its product offering “to lead across a wide-range of chocolate indulgence categories” in response to consumer demand for items that aren’t just seasonal, Goldman says.The brand’s most exciting  launch in recent years in this contexr is Godiva Gems. The new product is designed not just for enjoyment on special occasions or holidays, but “anytime, anywhere,” according to the company. As such, it come in various package sizes and shapes, and sells at affordable price points, making it accessible to a larger consumer base. Goldman calls Gems “the most significant global launch we’ve ever undertaken.”  Although the product stays true to the chocolatier’s gold standards, “it is a different expression of Godiva,” one that can be enjoyed every day, he says. At a suggested retail price of just $4.99 for a standup bag — an “unheard of price for Godiva quality products,” Goldman notes — Gems are fit for individual consumption, sharing and casual gift-giving. Plus, they look fantastic in a candy dish, he adds.

Read the story by Deborah Cassell in Candy Industry Magazine