UK-based Knoops secures $7.7m to support ambitious growth plans

Knoops plans to reach 200 UK stores and 3,000 outlets globally by 2030 | Photo credit: Knoops

UK-based premium chocolate and coffee chain Knoops has unveiled a £6m ($7.7m) debt financing agreement to support its domestic and international growth plans. 
 

Knoops, which appointed William Gordon-Harris as its news CEO in July 2023, said the investment has been led by Eléonore de Lubersac, the granddaughter of banking tycoon Raoul de Lubersac and great-granddaughter of French aristocrat and politician Guy de Lubersac. 

According to investor documents seen by The Evening Standard, Knoops will use the funds to support outlet expansion plans, which include reaching 200 UK stores and 3,000 outlets globally by 2030. The premium chocolate and coffee chain currently has 11 UK sites. 
 

“Knoops are delighted to confirm the placement of a £6m facility to enable the continued growth that has seen the business quadruple in size in the last two years. This debt funding aligns with our strategy to begin the international aspects of our ambition and follow our plan to create the new Starbucks for quality barista hot and cold chocolate drinks. We are delighted to have accepted a few limited new investors into the company, where they add industry and other strategic benefits,” said Gordon-Harris. 

Founded in East Sussex in 2013, Knoops has nine further sites set to open within the next 12 months, including stores in Bath and London’s Notting Hill this month. 

Knoops reported a 78% year-on-year rise in revenue in the year ended 30 June 2023.