British chocolatier and omnichannel retailer Hotel Chocolat Group has agreed to sell its stores in Denmark to Nordic firm Retail Brands.
Both the firms have also entered a development agreement that covers countries, namely Denmark, Sweden, Norway, and Finland.
Hotel Chocolat marked its foray into Denmark with its first store in Copenhagen in 2012, and currently operates three stores in the country.
Hotel Chocolat co-founder and chief executive officer Angus Thirlwell said: “Having proven the popularity of the Hotel Chocolat brand with Danish consumers, we are excited to be entering our next phase of Scandinavia-wide growth.
“By combining the strengths of our products and brand with the operational skills of an in-country partner, our goal is to deliver sustainable growth in Denmark and the wider Nordic region.”
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By GlobalDataIn line with the development agreement, the business in Denmark will be transferred to a franchisee and Hotel Chocolat retains an option to buy back the same after a period of five years.
Retail Brands co-founder and chairman Tobias Johan Toft said: “We are delighted to add Hotel Chocolat to our brand portfolio.
“We are well advanced with our plans to open new stores and expect to open at the Bruuns Galleri shopping mall in Arhus and Ro’s Torv mall in Roskilde this autumn.”
Retail Brands operates international retail franchises in Nordic and has plans to grow its business in the Scandinavian market.
