When Michele died in 2015, third generation Giovanni hit the acquisition trail, starting with Thorntons, which he saw as a brand to compete with Cadbury in terms of heritage and consumer awareness.

Thorntons Luxury Hot Chocolate Powder Sachets - 50x21g

The Ferrero group had always shunned acquisitions, relying on the ingenuity of founder Pietro and then son Michele, with the invention of global powerhouse brands such as Nutella and Ferrero Rocher. We’ve been making our delicious chocolates for over 100 years, exploring flavours and textures, to create new recipes and finesse your favourites for you to enjoy. Our Chocolate Makers drawon our rich British heritage and their knowledge of what you love, working passionately to ensure that every first bite of Thorntons is as pleasurable as the last.​ It was really just about two humans talking to each other rather than matters going to litigation,” Thirlwell told Retail Gazette. Thorntons on the other hand has been struggling with its profitability since the late 1990s. The retailer’s difficulties saw its share price plunge from a high of nearly 300 pence in 1998 to as low as 85 pence at the turn of the century. Arguably, Thorntons’ offerings in supermarkets gave it a run-of-the-mill effect with its products being readily available. Although its products appeared mass market, its prices still suggested a premium product.

At one time in the UK, if you wanted a nicer bar of chocolate than Bournville, there wasn’t anywhere to go but Thorntons. Hotel Chocolat has stolen their lunch since then. And all the supermarkets are now doing very well in own label with single origin, high-cocoa content.

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There may also be a strategy to shift focus away from the high street, reducing the retail estate, and using premium department stores and supermarkets for wider distribution.” Watch: M&S unveils Christmas ad starring Tan France and Sophie Ellis-Bextor posted on November 1, 2023 With the shops (bar those 23) now reopened, Ferrero says this approach would continue to be its focus and the next conversion will launch before Christmas. That’s why when we first started working with any third parties, we started with John Lewis, and we said we need our own dedicated space, and that we’re not keen on being put on the shelf, no matter how nice it is. We need a dedicated space of our own.” Thorntons closed down its entire UK store estate earlier this year. In June Thorntons retail director Sarah Ingram retired, to be replaced by Adam Goddard, who has been “instrumental”, says Ferrero, in shaping its US retail strategy. But the majority of his experience is in fmcg, including eight years for Ferrero UK working with the major supermarkets.

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This box is no exception, bringing together some of our finest creations… from our much-loved Continental range – inspired by travels across Europe, to Classic – a celebration of our nation’s most loved chocolates and finally to Thorntons Pearls with their delicious centres, just perfect for sharing. Yet despite the challenges, and the seemingly sluggish progress, only a fool would bet against Ferrero. It has a long-term strategy and, crucially, the cash to make Thorntons a success again. What’s more, it has been slow to react to changes and failed to embrace big trends such as dark milk and vegan, leaving rivals to occupy those grounds.