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Dutch chocolate brand Tony’s Chocolonely targets a 50 % growth over the next five years. To achieve that, it will turn its attention to foreign markets, where it still has room to grow. The brand is relatively unknown outside of the Netherlands.
Limited opportunities in the Netherlands
The company’s turnover grew 53 % in the past fiscal year (which ended on 1 October) to 44.9 million euro. Its net profit even nearly doubled, from 1.4 to 2.7 million euro. It still generates about 93 % of its turnover in the Netherlands, with the rest from the United States. However, its Dutch growth opportunities are relatively small, despite its intention to capture a 20 % market share this year. That is why it has turned its attention to foreign markets.
Over the next five years, CEO Henk Jan Beltman aims to maintain the company’s current growth, at about 50 % per year. This should lead to a 340 million euro turnover in five years’ time, according to RTL Z.
Profit in the United States
It will mainly target the United States for the growth: over the past year, its local turnover grew fourfold to 2.2 million euro and it even targets a 7 million euro turnover for this year. It still suffers a loss, but that should become a thing of the past this year or in the next. In order to achieve its growth plans, Tony’s will appear in regular supermarkets across the United States. For the time being, it is only available at smaller stores focused on fairtrade products.
As soon as it generates a profit in the United States, Beltman wants to move to the United Kingdom. It might even prepare for that market next year, with a designated, small team.
