Hotel Chocolat signs new partnership agreement in Japan
Hotel Chocolat has signed a new strategic partnership agreement with Tokyo-based Eat Creator Corporation.
The joint venture will include 21 branded Hotel Chocolat stores in the country which will benefit from a customer database of more than 200,000 registered Japanese consumers.
In a statement, Hotel Chocolat said Eat Creator will be providing growth capital, new supply side know-how and expertise in food brand development for the Japanese consumer.
Hotel Chocolat will hold 20% equity in the joint venture and will receive brand royalty revenues.
The move follows the retailer writing off almost £30 million in its previous joint venture in the country. Hotel Chocolat said the new partnership will benefit from “key business learnings from the first four years of trading in Japan”.
Angus Thirlwell, co-founder and chief executive officer of Hotel Chocolat, 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.”
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