Last week ended with the sudden announcement that Chocolat Frey had decided to withdraw its business from Export and Travel Retail markets. Subsequently, the Swiss chocolate brand will not be exhibiting in Cannes next month.
The formal announcement said:
“Due to the changing business and economic environment, Chocolat Frey has been forced to undertake an extensive review of its export strategy as Brand Chocolat Frey.
“On the basis of this review, Chocolat Frey has observed that a sustainable Brand business requires substantial long term investments. Due to the current economic environment (exchange rates/increased costs of raw materials, etc.) the company can no longer fulfill the requirements needed to achieve a sustainable and successful market position.
“For this reason, the Board of Chocolat Frey has decided to a withdrawal from the Brand business in all Export-Markets and in the Travel Retail Worldwide by the end of the year. Business Partners and Customers have been informed separately.”