Kopenhagen Founders Drive GoldKo’s Sugar-free Chocolate Revolution in Brazil

The family behind Kopenhagen is shaking up the chocolate market again as GoldKo plans to expand from 10 to 500 stores by 2034. This ambitious growth relies on a franchise model and sugar-free chocolates.

Requesting sugar-free chocolates might seem unusual, but it’s a growing trend. As the market diversifies, many brands focus on healthier products to make chocolate more accessible.

This shift, driven by both large companies and small startups, boosts industry growth. The global sugar-free food market, valued at $19.1 billion in 2023, is projected to reach $23.3 billion by 2027, according to Mordor Intelligence.

GoldKo aims to capitalize on this boom. Founded in 2017 by Paulo Kopenhagen Goldfinger and his children Gregory and Chantal, the brand initially focused on traditional chocolates. However, a pivotal moment in 2018 led to a complete transformation.

Gregory recalls his father introducing a new chocolate that was unanimously preferred over their existing products—and it was sugar-free. This discovery prompted a strategic shift.

By 2020, GoldKo launched its first store featuring sugar-free offerings like marshmallows, chocolate bars, protein bars, bonbons, and ice creams. The brand now sells about one million products monthly through physical stores, e-commerce, and 15,000 retail points.

GoldKo plans to sign 15 new stores by the end of 2024 and open at least 20 more in 2025. By 2034, the goal is to operate 500 locations across street shops and malls.

Kopenhagen Founders Drive GoldKo’s Sugar-free Chocolate Revolution in Brazil

To support this expansion, GoldKo invested over R$15 ($2.7) million in its Minas Gerais factory and R$5 million in franchise development. Gregory believes franchising will drive long-term success.

The company aims for a steady annual growth rate of 55%, driven by product quality and innovation. GoldKo developed the world’s first sugar-free marshmallow and its vegan version, “Musa,” which has become a bestseller.

Creating these products involved three years of research and significant costs. Sugar substitutes can be up to seven times more expensive than regular ingredients. Consequently, prices are higher but reflect production costs.

Despite the initial price barrier, customer conversion rates remain high after tasting the products. Gregory acknowledges strong competition but emphasizes that GoldKo’s competitive edge lies in superior taste.

Focusing on recognized strengths allows GoldKo to stand out in the market. Their commitment to flavor ensures they continue leading in sugar-free chocolate innovation.