Money Makers Mentor

Godiva to Close all North American Stores in March 2021

Godiva will close all 128 of its stores in the United States and Canada by the end of March 2021. Decreased demand at in-store locations caused in part by COVID-19 drove the decision. Godiva will continue online sales to its North American customers, and high-end grocery stores and retailers will continue to carry the products.

Decreased in-person shopping during the pandemic made the stores less profitable. CEO Nurtac Afridi was appointed in December 2020 to find new avenues for the products. Interaction with the high-end chocolate brand was the cornerstone of the in-store experience.

But COVID-19 compromised that experience, and dwindling mall sales convinced the brand that brick-and-mortar stores were no longer a good investment in North America. Godiva will keep its stores open …

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