Godiva is closing or selling all of its stores in the United States
Source
American Shipper
Post Date
02/01/2021
Luxury chocolatier Godiva is getting out of the brick and mortar business. The company is closing or selling all 128 of its brick-and-mortar stores in North America, it announced in a statement. It plans to complete the closures and sales by the of March.
Godiva will keep its stores across Europe, Middle East and Greater China. The company did not disclose information on how many employees would be let go because of the closures.
Less than two years ago, Godiva was planning a massive expansion by getting into the cafe business. The chocolatier ed its first cafe in the United States in New York City in April 2019 and announced that it planned on ing 10 more cafes in New York and more than 400 across the United States. It was part of a plan to 2,000 new cafes around the world.
But that plan never came to fruition. Godiva relied heavily on mall traffic, which has been plummeting even before the pandemic. The chocolatiers sales are largely driven by online purchases and purchases through Godivas grocery, club and retail partners.
This change comes during a time when Covid has hit dozens of underperforming businesses. The retail apocalypse in particular has come for restaurants, mall stores, businesses that rely on impulse shopping and luxury retailers.
