Godiva has for a long time now being among the leading corporations in its area of expertise, chocolate. Currently, it records a sale of 500 million USD per year. It offers a very interactive, as well as customer service, where consumers are able to feel the staffs’ sincerity. Company history
Godiva Chocolatier is a multinational Company that deals with manufacturing of premium chocolates and other products related to chocolates. Godiva was founded in 1926, in Belgium, but later purchased by the Turkish Yildiz Holdings, the owner of Ulker Group. It opened its first boutique shop in the Grand Place in Brussels. The company went global through opening its first shop outside Belgium in Paris, France in 1958. The company expanded further and by 1966, the company products had reached United States where most of the products were sold mostly in luxury strip malls. Godiva has more than 600 retail shops and boutiques that it owns and operates in various countries such as United States, Asia, Europe, as well as Canada. The corporation is also available through more than 10,000 specialty retailers. This company, in addition, to chocolates offers other products such as truffles, biscuit, and fruits, cocoa, among several other foods and beverages (Godiva History and FAQ (2004). The company by the year 2007 had reported annual sales of 500 million USD. It is in the same year that the company announced its interest in exploring various strategic alternatives among them being divestiture. However, in December, 2007, the company announced its interest in selling Godiva to one of the largest and prominent consumer goods manufacturer in the Turkish food industry, and by 2008, the process was completed, and Yildiz Holdings gained ownership of this company (Adelman, Andrews, & Lee, 2007). Currently, this company continues to own and carry its operations in with more than 400 shops globally. The company has embraced the new technology of online shopping and currently it issue 6 seasonal mails order catalogs annually in United States, as well as accepting online and telephone orders for their goods (Godiva History and FAQ (2004).
Godiva operations in Singapore
Singapore can be an interesting market to penetrate through direct investment or franchising. Godiva has directly invested in Singapore through setting up shops and boutiques in several cities in Singapore. This country is strategically situated at the southern tip of the Malaysian Peninsula. It consists of Singapore islands, several islets within its territorial waters. The land is characterized by undulated land with low hills. Therefore, the country is well accessible due to its accessibility through land, water, and air. Singapore is currently regarded as one of the most dynamic cities globally where people can work, invest, and live in (Ghosh, 2010). It is globally connected with a multicultural and international city states and towns and offers one of the best conducive environments globally to do business and for success driven industries. For about four decades now, Singapore has undergone tremendous transformation from a place of national business to one of the world’s prominent financial centers, sea hubs and international airports. Additionally, it has become one of the most open economies for both trade and investment nationally and globally. Companies and organizations operating in this country are guaranteed access to competent and unbiased judicial system, transparency and consistence in government guidelines, implementation of strong and good corporate governance policy, as well as anticorruption policies. Godiva, after carefully market research in Singapore, developed strategies of entering into this market. Godiva Company has invested directly through setting up store and shops for selling its products. It has three stores in this country that are situated in main locations, for example, in large cities and islands where there is easy...