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Company Overview - Godiva

Goals

To have a company overview of Godiva. Specifically to have important background information on the company, as well as how it is performing in the chocolate/confectionery market, any important changes within the company, and anything special or out of the ordinary it has been doing.

Early Findings

  • Our research will be focused on Godiva. The website link is here.
  • The background on Godiva can be accessed here. A synopsis of that is: In 1926, a man from Belgium by the name of Joseph Draps began making a variety of exquisitely divine chocolates. He wanted to sell them under a name that was bold, but also passionate and graceful. He chose the name Godiva. Because mass production of chocolate was already prevalent at the time Draps began creating his, he quickly and successfully opened his first store of fine chocolates in Brussels in 1926. Draps was also a thriving chocolatier not only because of the delicacies he made, but because of the hand crafted packaging they were sold in, which quickly became a staple of the Godiva brand. Originally, Godiva sold nothing more than fancy chocolate gifts in fashionable packages. Today, they have an extensive line of food that includes baked desserts, coffee, biscuits, ice cream, truffles, wedding favors and party favors. Now, with over 450 boutiques worldwide, their chocolates are being sold in specialty retail stores around the world, and consumers have the ability to buy Godiva online and over the telephone.
  • Some recent innovations Godiva has made are Sables, Mousse Meringue, Fondant Chocolates, Message Tout Chocolates, Belgian Truffles, Chocolate Oyster Collection, Flavors of the World Collection, Mid-Autumn Festival Chocolate Mooncakes, Trufflelata, and Soft Serve.
  • Godiva opened their first chocolate-centric cafe in NYC on April 17th, 2019. The Godiva Cafe, located at East 50th Street and Lexington Avenue, aims to offer not only its renowned chocolate truffles and coffee, but quickly prepared breakfast and lunch meals to meet the needs of New Yorkers who are constantly on the go.
  • In June 2018, former Shack Shack executive Phil Crawford, was named as Godiva's global CTO.
  • In October 2018, John Galloway was named chief marketing and innovation officer for Godiva Chocolatier.
  • Chocolate sales in the U.S. reached $22.4 billion in 2017, up from an estimated $21.1 billion in 2015.
  • "Chocolate still accounts for only half of U.S. confectionery spending. Of that share, only about 7 percent of sales are generated from boxed chocolates. The lion’s share goes to chocolate-covered bars, which accounted for almost 47 percent of sales."
  • Godiva announced on October 15th, 2019, "the launch of new premium baking chocolates, available at grocery stores nationwide. The new product line combines the unparalleled quality of GODIVA chocolate and the convenience of baking chocolates, ideal for any homemade dessert from hand dipped strawberries to decadent cakes. This launch follows the introduction of GODIVA premium baking mixes, which were created to help consumers easily craft specialty form desserts at home."
  • "Belgian chocolatier Godiva Singapore has selected digital marketing agency Hashmeta to manage social media duties for six months with the option to extend for a year. The job scope covers social media content creation, community management and analytics, and work started in September. Hashmeta is responsible for increasing brand engagement and awareness for Godiva in Singapore. The appointment was made without a pitch."
  • Godiva plans to grow its business fivefold in six years.
  • Godiva's latest advertising campaign, “Wonder Awaits” consists of both photography and videography advertisements. The story line plays off a loose homage to its founder Pierre Draps, who as a young man in Belgium learned how to make his now famous truffles to delight his wife. The campaign signals a transformation and reintroduction of the brand with a goal to reach a younger audience." The videos feature two young characters, Pierre, a chocolatier, and Mimi, a lover of sweets. Together, they indulge in Godiva chocolate, which plays a central role in their connection, and helps to grow their relationship.
  • In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address the stated goals.

Summary Of Our Early Findings Relevant To The Goals

  • Our first hour of research provided Godiva's history and origin story, as well as some background on the company. We also included some executive changes in the company in the past 24 months, along with some innovations they have recently created in its product lineup. Finally, we were able to provide some news articles and some information on their newest advertising campaign called "Wonder Awaits".
  • We did not have time in the first hour to provide any information on how well Godiva is doing in the chocolate and confectionery market.
  • We assumed a global focus for this research. If a more targeted approach is desired, for example, the United States, this would have to be clearly communicated to us in any reply.
  • Please select one or more of the options provided in the proposed scoping section below.

Proposed next steps:

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