GODIVA ULKER ACQUISITION Sustainability of a Luxury Chocolate

GODIVA & ULKER ACQUISITION Sustainability of a Luxury Chocolate Brand Prepared by PEYMAN YÜKSEL

About Godiva Founded in Belgium in the 1920 s as a family business Named after Lady Godiva Purchased in 1974 by the Campell Soup Company Purchased in 2007 by the Yıldız Holding which belongs to Ulker Group Godiva International with 3 decision centers: Godiva Europe Godiva USA Godiva Japan Duty free sales in more than 20 airports

About ULKER ü Founded in Istanbul in 1944. They started with the petit buerre product which is still in the market. ü Starting the chocolate production in 1970 ü Developing the bisquit machineries in 1984 and the carton boxes in 1985 ü Founded Yıldız Holding 1989 ü Entering to the information sector with Data Tech Company in 1989 and Besler Food Com. ü Ulkerspor Basketball Team 1993

About ULKER cont. Acquisition with GODIVA

About ULKER cont.

MISSION AND OBJECTIVES “TO BE WORLD’S MOST PREFFERED LUXURY CHOCOLATE BRAND” Objectives To maintain luxury image of Godiva Make people believe it is best in taste, quality, hygiene etc. To follow new trends for sustainibility of brand To increase market share To utilize new marketing methods, such as e-shopping, social media tools etc.

Market Trends Butique and Micro-manufacturers Healthy Chocolates Organic Chocolates High Cocoa Percentage Make your own flavoured Chocolate Simple-frozen Chocolate covered flavors Mixing different taste into cocoa

What did they do for this purpose? They created an advisory committee to improve strategies. All of them were working for the some of the global luxury companies i. e. Tommy Hilfiger, Burberry and Body Shopy They tried to understand how they managed the global network according to the local culture.

What did they do for this purpose? Cont. They put a turnover target (to make the turnover double, $ 450 million) and they reached almost this amount ($ 850 million) in 5 years. They didn’t change the senior management in GODIVA. Only they changed the Manager of Human Resources because of leaving from CAMPELL Soup Comp.

Culturel Differences Chine, South Korea, Japan