US- Confectionary and snack food company Pladis, which owns the Godiva chocolates brand revealed it has experienced a rapid growth in sales through its slimmed-down portfolio across the price spectrum and is expected to cross the US$1 billion sales volume mark in the next few years due to being more willing to take risks compared than competitors.
Carlos Canals, Pladis’ Managing Director for North America lauded the trimmed down portfolio, stating players in the chocolate market need to be agile and more comfortable with taking risks.
Canals revealed he was tasked with other Pladis executives to come up with an array of chocolate products to sell in the North American market. His team selected what they perceived as the most promising chocolate and confection collection from the 200 different unreleased treats.
The team settled on an assortment of 3 different confections and chocolate products in 8 and 15-count box assortments that included different colors, textures, tastes and other defining features that would actively compete in the market apart from the popular Godiva, Flipz and Turtles brands.
The product offerings include Lingot D’Or, a hazelnut praline with dark chocolate and roasted hazelnuts wrapped in a gold foil, to Ruby G, a ruby cacao square filled with dark chocolate mousse and biscuit crumbles.
Canals also revealed Pladis aims to leverage the strong brand presence and image of Godiva in airports to introduce products like Turtles or Flipz into the market.
Although the company reiterated it is open to acquiring new products, its primary focus moving forward is expanding the presence of its current portfolio in the global market.
“We have more upside [with our current portfolio than if we added] more complexity and more brands,” Canals added.
The company described the growth potential of its products as ‘massive.’ Canals revealed sales for the North American brands crossed the US$400 million in 2023 and is expected to cross the US$1 billion mark by the next five years.
The confectioner revealed it plans to release a wider variety of its Flipz and Turtles brands to appeal to a younger customer base.
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