Knoops, the chocolate drink specialist, is well placed for its “best Christmas ever” with record sales throughout November, continuing into December.

Knoops, which has been chosen as a brand partner for Hollywood film Wonka, said 2024 was shaping up to be “another exceptionally successful year”.

The brand is planning to more than double in size in 2024 following a milestone £8.3m fundraising in November, which leaves it debt-free and positioned for higher profits in FY24.

Knoops currently has 15 branches, including seven in London, with plans in place to take the number of outlets to 20 nationally by April, including new openings in Edinburgh, Leeds and Exeter as the trend for barista drinking chocolate follows coffee in taking root on British high streets.

The business will now press ahead with its 12-month pipeline of an additional 20 openings from April 2024, targeting major cities and university towns, with medium-term domestic ambitions for 200 stores across the UK.

In 2024, the company has plans to expand internationally and believes it has the ability to pass 3,000 stores around the world by 2030.

It comes as Knoops reported revenue up 67% to £4.43m (FY22: £2.64m), or 18% on a like-for-like basis, for the year ended 31 March 2023.

Operating EBITDA was up 206% - or 19% on a LFL basis – to £269,093 (FY22: £87,557).

Trading in the six months to 30 September 2023 has seen revenue up by 90% to £3.31m (HY22: £1.74m), or 20% on a LFL basis.

Operating EBITDA was up 433% - or 309% on a LFL basis - to £192,748 (FY22: £36,311).

The store estate expanded to 13 with two more opened since then.

Knoops reported sales growth across all stores, with LFL drinks sales up 17% - and cold drinks up 33%, making it a more year-round proposition.

William Gordon-Harris, executive chairman and CEO of Knoops, said: “These are hugely exciting times for Knoops, and our financial performance illustrates the outstanding growth that we are achieving as our stores continue to showcase the joy of drinking chocolate throughout the year with customers of all ages. Not only are we creating a market for exceptional chocolate drinks on the high street, but our chocolate flake range means that our customers can enjoy Knoops at home, just as they do with coffee. There is so much depth to the market given the broad appeal of our product and the scalability of this business, and we’re more ambitious than ever before for the future of Knoops both here and abroad.”