TO DEVELOP NEXT GENERATION CHOCOLATE, SUSTAINABLE CHOCOLATE BRAND Love Cocoa RAISES €4.8 MILLION TO PUSH FORWARD THE INNOVATION
It’s worth noting that a number of products are struggling with sustainability, which does not exclude the chocolate industry. Why in some regards – Chocolate (the treat that delights around the world) has garnered a less-than-delightful in some proportion. However, to curb this, sustainable chocolate brand, Love Cocoa has just raised €4.8 million to develop the next generation of chocolate driven by ethical values.
Launched in 2016, the subject chocolate brand has been identified for its sustainable and ethical values. Founded by ‘James Cadbury’, understood to be a descendant of one of the pioneers of the chocolate industry, the startup which is on the path to innovating the next generation of the chocolate business has secured a new fund.
The fresh fund was led by ‘Richard Koch’, the author and entrepreneur behind Grind, Plymouth Gin, and Betfair, and is in the region of €4.8 million.
“I’m delighted to have Richard and his team’s backing. I’m excited to be working with him on driving the strategic development of both Love Cocoa and H!P Chocolate, helping propel them from challenger brands to chocolate industry powerhouse”, ‘James Cadbury’, said.
Richard Koch also noted, “love Cocoa and H!P Chocolate is at the forefront of sustainable chocolate innovation. I’m looking forward to supporting the business on the next stage of its incredible journey”.
The London-based company began in 2016 as the UK’s first letterbox-friendly chocolate service. Currently, it has developed into both the luxury chocolate brand, Love Cocoa, and plant-based oat milk chocolate, H!P Chocolate (launched 2021). With ethical values at the heart of the business, the aforementioned brands are known for championing sustainably sourced, slave-free cocoa and plastic-free packaging alongside commitments to combating deforestation coupled with climate change.
In addition to the above, chocolate brand Love Cocoa also launched its ‘Plant A Tree’ pledge in 2020, planting a tree for every product purchased. Based on this, the subject brand has to date planted more than 1.5 million trees across North Africa and East Kenya.
While the fresh fund will be deployed in a number of areas, firstly, to grow the business’ senior management team, launch its first bricks and mortar retail store, and further build retail distribution. In a broader dimension, the startup intends to continue developing a new generation for the chocolate industry, notably one that prioritizes sustainability and ethical values. To ensure that the product will be accessible to consumers beyond existing partnerships with retailers even as the funds will be used to open up brick-and-mortar stores under the Love Cocoa brands and include growing the team.
Love Cocoa founder ‘James Cadbury’, also added: “We’re excited to be going into physical retail later this year, launching our first Love Cocoa store. retail is moving to an omnichannel approach, and we see the opportunity to innovate with our new stores offering unique, experiential moments. Alongside that, consumers are wanting to come back to the high street and that gives us the opportunity to deliver sensory chocolate experiences that simply can’t be achieved shopping online. We see this as a real game changer for the business and can’t wait to open our first store”.
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