Family-run business
Godiva's origins begin in Brussels in 1926 when Pierre Draps began making pralines at a home-workshop to sell in the Belgian department store Sarma, among other retailers. Pierre's three sons, Joseph, Francois, and Pierre Jr., all learned and worked for the family business from an early age. After Pierre's death shortly before World War II, his three sons continued the workshop on the ground floor of the family home in Molenbeek.[16][17][18]
In 1945, the Draps began using the brand name “Godiva.” The name was an idea from Joseph Draps' wife Gabrielle, in reference to the English noblewoman Lady Godiva.[18][19][20] The brothers opened their first shop shortly afterward in the Brussels municipality of Koekelberg (on Boulevard Léopold II). Less than 6 months later, a second shop followed in Knokke.[16][17]
By 1958, Godiva had twenty stores in Belgium and opened its first shop outside Belgium in Paris on the Rue Saint Honoré. That same year, Godiva's chocolates gained international exposure during the 1958 World Exhibition in Brussels.[16][17]
Acquisition by Campbell Soup Company
In 1966, the Campbell Soup Company acquired a one-third stake in Godiva and began distributing the products in the United States for the first time, where they were sold at shopping centers. Campbell operated a manufacturing facility in Reading, Pennsylvania, to produce Godiva chocolate for the American market.[21][22] In 1972, the first Godiva shop in North America was opened on New York City's Fifth Avenue. That same year, Godiva chocolates became available in Japan in a department store in central Tokyo.[23] In 1974, full ownership of Godiva was sold by the Draps Family to the Campbell Soup Company.[24][22][5]
Yıldız Holding Ownership
By 2007, Godiva had annual sales of approximately $500 million. In August of that year, the Campbell Soup Company announced it was exploring strategic alternatives, including possible divestiture, for its Godiva Chocolatier business; the company said the "premium chocolate business does not fit with Campbell's strategic focus on simple meals".[26] In December 2007, Campbell announced that it entered into an agreement to sell Godiva to Yıldız Holding, which is based in Istanbul, Turkey, and which also owns the Ülker group and the largest consumer goods manufacturer in Turkey.[6][27] The acquisition was completed in March 2008 for $850 million.[28][29]
According to
Ownership and operations in four countries sold to MBK Partners
In 2019, a Korean private equity firm, MBK Partners agreed to purchase Godiva’s operations in Japan, South Korea, and Australia (and rights to future expansion in New Zealand) as well as its production facility in Belgium.[39][40] Yıldız would retain the brand ownership in all markets, granting a perpetual license for use of the brand to MBK Partners.[41] The transaction details were not disclosed, but estimated to be 1 to 1.5 billion USD.[42]
Two companies, one brand
Yıldız
In 2019 Yıldız's Godiva opened its first café-concept location in New York City, with plans to open 2,000 more around the world over the next 6 years.[43] In 2021, the company announced the cancellation of its plans to pursue its café concept and the closing of all its physical locations in North America. Godiva also closed most of its retail locations in Europe.[44][45]
In April 2024, the Yıldız-owned portion of Godiva was integrated into the confectionery and snack foods company Pladis, a subsidiary of Yıldız formed in 2016. Under this structure, Steve Lesnard was appointed as President of Godiva.[15]
Its biggest markets are the US and China.[46]
Yıldız
In 2019 Yıldız's Godiva opened its first café-concept location in New York City, with plans to open 2,000 more around the world over the next 6 years.[43] In 2021, the company announced the cancellation of its plans to pursue its café concept and the closing of all its physical locations in North America. Godiva also closed most of its retail locations in Europe.[44][45]
In April 2024, the Yıldız-owned portion of Godiva was integrated into the confectionery and snack foods company Pladis, a subsidiary of Yıldız formed in 2016. Under this structure, Steve Lesnard was appointed as President of Godiva.[15]
Its biggest markets are the US and China.[46]
MBK Partners
MBK Partners independently own and operate Godiva in Japan, South Korea and Australia, including 300+ shops selling a variety of products including chocolate, biscuits, cake, ice cream, and drinks. Since 2021, the company has expanded into cafés and bakeries under the Godiva branding.[47][48][49]
