UK-based Knoops seeks £5m investment and posts robust full-year revenues

Knoops store in Notting Hill, west London | Photo credit: Knoops

Premium drinking chocolate and coffee chain Knoops is seeking to raise £5m ($6.6m) to support UK outlet growth and ambitious international expansion. 
 

Founded in 2013, Knoops operates 21 UK stores and has further sites in Belfast, York and Newcastle in development. The brand is also scheduled to open its first international outlet in Dubai, UAE, in October 2024. 

The new investment, which will include £1m ($1.3m) sourced from a public Crowdcube fundraising campaign, will enable Knoops to open new UK and international stores while also expanding its retail, wholesale and online channels.

Knoops will also upgrade its chocolate flake production capacity eightfold to meet demand for its retail division – currently the fastest-growing part of the business – with prominent partners including Harrods, Selfridges and Whole Foods.   

Read related content: How Knoops is raising the bar for craft chocolate beverages 

Knoops’ total revenue for the 12 months ending 31 March 2024 grew 110% year-on-year to £9.3m ($12.3m) with operating EBITDA up 264% to £979,264 ($1.3m). Trading in the five months since April 2024 increased 15% year-on-year. 
 

“As the FY results demonstrate, Knoops is rapidly building a stable, loyal and broad customer base across the UK – both on the high street and in people’s homes. We will continue this growth by raising funds to open more stores in this country, increase our retail flakes production capacity, and start expanding internationally. Our first store outside the UK opens in Dubai next month, and we have big plans for rest of the world,” said William Gordon-Harris, CEO, Knoops. 

In August 2024, Knoops appointed Pret A Manger and itsu founder Julian Metcalfe and former Sanctuary Spa CEO Alice Avis as Non-Executive Directors. The premium drinking chocolate and coffee chain also counts former Hotel Chocolat Chair Andrew Gerrie as an advisor-investor.