Knoops set for £5m fundraise to accelerate international expansion

Chocolate drinks specialist Knoops has secured approval for a £5m fundraise as it looks to expand internationally.

It comes after the group’s executive chairman, William Gordon-Harris (pictured), told The Caterer Knoops was planning to open more than 120 UK stores over the next five years in a bid to become “the next Starbucks”.

Meanwhile, Pret A Manger co-founder Julian Metcalfe and  Alice Avis, global brand director at Diageo’s Johnnie Walker, have joined Knoops as non-executive directors.

The fundraise is being led by Andrew Gerrie, co-founder of cosmetics retailer Lush. He was previously chairman of Hotel Chocolat from 2015 until its sale to Mars last year.

Knoops fully owns its UK business and has been growing rapidly since the brand was approached by investor and now executive chairman Gordon-Harris in 2019.

It operates 20 stores across the UK, with sites in York, Exeter and Belfast in the pipeline.

Gordon-Harris said: “The reality of Knoops being a leading global brand has taken one step closer with Julian and Alice joining the board and investing in the business alongside Andrew.

“Their belief in the scale and scope of our chocolate drinks offering and the ability of Knoops to lead this unique category is a fantastic endorsement. We are building upon our world-class team to realise our ambitions.”

Metcalfe added: “Knoops, like Itsu, is a pioneering confident brand with a sense of purpose and a passion for quality. They don’t come around that often and I applaud their leadership and vision. I am hugely excited to be part of this story.”

Jens Knoop, founder of the eponymous brand, opened his first shop in Rye in April 2013.