Godiva is closing or selling all of its stores in the United States

Luxury chocolatier Godiva is getting out of the brick and mortar business.

It is closing or selling all 128 of its physical stores in North America by the end of March, it announced. Godiva will keep its stores open 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 opened its first US cafe in New York City in April 2019 and announced that it planned on opening 10 more cafes in New York and over 400 across America. It was part of a plan to open 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 chocolatier’s sales are largely driven by online purchases and purchases through Godiva’s grocery, club and retail partners.

Source: https://edition.cnn.com/2021/01/24/business/godiva-closing-us-stores/index.html

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