Hotel Chocolat looks East for expansion

Hotel Chocolat, the luxury chocolate brand, is set to expand its stores into the Far East with 10 expected in Hong Kong alone, the London Evening Standard has learnt.

The company sent staff to the region last year and the owners have already said that this year they will sell a minority stake to fund the expansion.

Sources close to the company, led by Angus Thirlwell, said it was premature to suggest a sale would happen imminently but that bosses are still keen to continue exploring expansion options.

The source said: “They were looking at expansion for some time but they don’t want to open just one or two stores, they want 10 to make a real impact.”

Hotel Chocolat has 75 chocolate shops in the UK, having launched its first in High Street Kensington 10 years ago. It has been expanding into other areas, opening a restaurant in Borough Market, while several stores have had coffee shops installed.

The owners would be looking to sell up to a £40 million stake in the business and are working closely with PricewaterhouseCoopers.

Hotel Chocolat declined to comment.