Belgian chocolatier Leonidas kept its products relatively cheaper than those of competitors, aiming for volume growth and steady expansion to snatch market share from its competitors.
Less for more
Leonidas achieved a turnover growth of 11 % to 107 million euros in its most recent financial year (ending in June), despite the bankruptcy of a major Dutch distribution partner. Its EBITDA rose by 4 % to 17.5 million euros, despite a drop in margin.
Leonidas deliberately chose not to let prices rise in line with inflation. Prices have increased by less than 5 % since 2020, CEO Philippe de Selliers told Belgian newspaper De Tijd. The praline maker is settling for lower profit margins to attract more customers, taking market share away from rivals Neuhaus and Godiva.
Leonidas wants to boost volume even further by opening new physical stores. After the coronavirus pandemic, which dealt the chain some heavy blows, the chocolatier now wants to open fifty new outlets. Thirty of these will be in France, where the chain is replacing outdated shops; nine more openings are planned in the Netherlands. Five new Dutch shops already opened this year: in January, the franchisee of branches at Schiphol Airport went bankrupt, but De Selliers wants to replace them steadily. He also sees further potential in international airports, such as Heathrow and Frankfurt.
