small London café chain has set its sights on becoming “the new Starbucks” after securing a multi-million pound loan from a wealthy French aristocrat.
Knoops, which is known for its luxury hot chocolate drinks sold at stores in Kensington, Covent Garden and Knightsbridge, plans to turbocharge its expansion after it sealed a £6 million debt financing arrangement led by Eléonore de Lubersac, the granddaughter of banking tycoon Raoul de Lubersac and great-granddaughter of northern French aristocrat and politician Guy de Lubersac.
According to investor documents seen by the Standard, Knoops is now eyeing as many as 200 stores in the UK and believes it “has the ability” to emulate the rapid growth model of US chain Starbucks, by expanding to 3,000 stores worldwide by 2030 with an annual turnover topping £3 billion.
Knoops’ recently-appointed CEO, William Gordon-Harris, said: “Knoops are delighted to confirm the placement of a £6m facility to enable the continued growth that has seen the business quadruple in size in the last 2 years.
“This debt funding aligns with our strategy to begin the international aspects of our ambition and follow our plan to create the new Starbucks for quality barista hot and cold chocolate drinks.
“We are delighted to have accepted a few limited new investors into the company, where they add industry and other strategic benefits.”
Gordon-Harris also boasts northern French aristocratic roots, being a descendant of the Champion de Crespigny baronets. The second baronet was MP for Southampton in the 19th century.
Another recent major investor in the company is Konstantin von Schweinitz, a polo-playing investment banker and a member of the German aristocratic von Schweinitz family. He is the grandson of former German navy rear admiral Hans-Hermann Graf von Schweinitz und Krayn.
Knoops began at a single outlet in East Sussex in 2013 set up by founder Jens Knoop, who moved to the UK from Germany in the nineties. It has since expanded to 11 stores, with the lion’s share located in London.
The chain’s offering of indulgent hot chocolate drinks, ice cream and milkshakes has proved a hit with Londoners and tourists alike, who have flocked to its stores to sample the more than 20 different varieties of chocolate on offer.
More expansion in London is already on the way, with a new outlet in Notting Hill to open in August. A store in Bath is also planned.
Jens Knoop told the Standard the café chain’s later opening times – its Covent Garden site is open till 10:30pm on weeknights – was helping it attract a wider customer base that conventional coffee shops were missing out on.
“We are getting the post-theatre crowd or the after-restaurant crowd who want a hot chocolate on a chilly night,” he said.
“There is an appetite for something new — this is about adding something to the culinary scene.”
