{"id":9090,"date":"2010-12-01T05:00:00","date_gmt":"2010-12-01T05:00:00","guid":{"rendered":"https:\/\/business.cornell.edu\/centers\/2010\/12\/01\/a-brand-for-all-seasons\/"},"modified":"2026-07-14T18:18:58","modified_gmt":"2026-07-14T18:18:58","slug":"a-brand-for-all-seasons","status":"publish","type":"post","link":"https:\/\/business.cornell.edu\/centers\/2010\/12\/01\/a-brand-for-all-seasons\/","title":{"rendered":"A Brand for All Seasons"},"content":{"rendered":"\n

Jim Goldman, MBA \u201985, President and CEO , Godiva Chocolatier<\/h2>\n\n\n\n
\"A<\/figure>\n\n\n\n

Like many successful leaders, Jim Goldman thinks outside the box. For the aptly-named Goldman, the box in question is a 14-carat icon \u2014 Godiva Chocolatier\u2019s gold-toned ballotin.<\/p>\n\n\n\n

As one of the world\u2019s best-known packages, that box confers a strong advantage, says Goldman, president and chief executive officer of New York-based Godiva. But it\u2019s also a gilded cage.<\/p>\n\n\n\n

\u201cWe are saddled a bit with the consumer perception that Godiva is only for special occasions \u2014 great for Valentine\u2019s Day and maybe for Christmas, but too expensive, too luxurious for more regular consumption,\u201d Goldman says. That perception, he adds, needs to change.<\/p>\n\n\n\n

These days, Godiva is breaking out of the golden box in a big way, seeking to connect with consumers in many more places and on many more occasions. \u201cGodiva needs to be relevant 12 months a year,\u201d Goldman says.<\/p>\n\n\n\n

The push to make Godiva a brand for all seasons goes back at least to 2004, when the Campbell Soup Company named Goldman president of its Godiva business unit. \u201cJim improved our competitiveness. He created a whole bevy of innovations that found their way into the Godiva stores,\u201d says Campbell\u2019s CEO Doug Conant. Theatrical touches \u2014 employees dipping strawberries in chocolate or whipping up frozen \u201cChocolixer\u201d drinks \u2014 drew customers into Godiva boutiques and kept them coming back to see what the store would serve up next.<\/p>\n\n\n\n

But opportunities to transform the brand really took off in 2008, when Campbell sold Godiva to Yildiz Holding, parent of the \u00dclker Group, a privately-held Turkish food manufacturer.<\/p>\n\n\n\n

The new parent\u2019s chairman, Murat \u00dclker, is a savvy businessman and a visionary leader, Goldman says. \u201cHe has a much longer perspective on things, not quarter-to-quarter.\u201d Campbell gave Godiva strong support, he says, but a publicly traded firm must consider its shareholders first. \u201cAs a Fortune 500 company, Campbell could not afford to take the risks and make the investments that we\u2019re making now to realize our full potential.\u201d<\/p>\n\n\n\n

With \u00dclker\u2019s backing, Goldman and his team are going all out to put both traditional Godiva treats and a growing assortment of new products \u2014 from ice cream parlor truffles to dipped Oreo cookies to individually wrapped Godiva \u201cGems\u201d \u2014 into more and more customers\u2019 mouths. \u201cOver the past two years, we have ramped up our innovation game to almost a dizzying level of activity,\u201d he says.<\/p>\n\n\n\n

Taking on the White Space<\/h3>\n\n\n\n

Godiva has room to grow because the brand has plenty of what Goldman calls \u201cwhite space\u201d \u2014 market opportunities it hasn\u2019t seized in the past. Especially during a recession, he says, a maker of premium chocolate needs to serve chocolate aficionados wherever they may be.<\/p>\n\n\n\n

To fill in that white space, Goldman and his executive team are pursuing three main strategies: expanding into new countries, introducing new products, and selling through new channels.<\/p>\n\n\n\n

Already well-established in North America and Japan, Godiva recently arrived in China, with plans for ten boutiques in four cities by 2011. In October, it opened the world\u2019s largest Godiva store \u2014 a boutique-plus-caf\u00c9 \u2014 in Shanghai. Godiva debuted this summer in Istanbul, \u00dclker Group\u2019s headquarters city, and it\u2019s expanding in Australia. The company is eyeing South Korea and aims to develop a stronger presence in the Middle East, Goldman says<\/p>\n\n\n\n

With its second strategy, Godiva is encouraging consumers to reach for its products on a much broader variety of occasions. That means expanding the popular notion of Godiva chocolate as a gift.<\/p>\n\n\n\n

\u201cGodiva is great for that emotional, special gift for Valentine\u2019s Day, but maybe a little bit over the top for giving to the person who took care of your dog over the weekend,\u201d Goldman says. That\u2019s the traditional view. But Godiva\u2019s new gift baskets, baked goods or holiday treats might be just the ticket for a dog-sitting neighbor.<\/p>\n\n\n\n

Godiva also has devised products for people who want to buy treats for themselves or to share with co-workers or friends. \u201cGodiva isn\u2019t well developed in those usage occasions, and yet they\u2019re huge year-round,\u201d Goldman observes. That category includes a line of chocolate tablet bars and the Godiva Gems, which sell in four-ounce bags for $4.99.<\/p>\n\n\n\n

To market products for anytime consumption, Goldman and his team have decided they can\u2019t rely solely on Godiva\u2019s traditional retail venues \u2014 department stores and Godiva boutiques. So strategy number three calls for broadening distribution. In 2009, Godiva started selling chocolate bars and Gems in pharmacies and grocery stores in the U.S.<\/p>\n\n\n\n

It was a controversial decision. \u201cIt\u2019s the one that I think we, as an organization, grappled with the hardest,\u201d Goldman says. But given the presence that premium chocolates have gained on grocery and drugstore shelves, Godiva couldn\u2019t afford to hold itself aloof.<\/p>\n\n\n\n

Research showed that customers in the U.S. appreciated the chance to buy more impulse-oriented products from Godiva in a broader range of outlets, Goldman says. While responding to those customers, the company also continues to cook up fresh, innovative, and customized products for sale in its own retail stores, he adds.Godiva\u2019s traditional image wasn\u2019t the only factor that made moving into the mass market a bold step, says Kris Breuer, Godiva\u2019s senior vice president of human resources. Besides challenging Godiva to maintain its aura of prestige while appealing to a broader market, the strategy demanded that the company develop new marketing and distribution skills.<\/p>\n\n\n\n

\u201cYou\u2019re looking at dealing with broker networks, which we\u2019d never done before. And you\u2019re entrusting your brand to places where you don\u2019t have control over what it looks like on the shelf,\u201d says Breuer, who first worked for Goldman when he headed Campbell\u2019s Food and Beverage division. \u201cYou have to look at how to advertise, how to keep the image alive while getting the chocolate into the mouths of everyday consumers.\u201d<\/p>\n\n\n\n

Godiva\u2019s luxury gift business operates something like the fashion business, driven by the seasons and the need to build excitement, says Dave Marberger, the company\u2019s chief financial officer, who also worked for Goldman at Campbell Food and Beverage. \u201cThat\u2019s a much different approach than when you put a new product into a grocery store.\u201d<\/p>\n\n\n\n

So far, Godiva\u2019s broader distribution efforts focus mainly on North America. \u201cOur go-to-market strategy is different by country, but our desire to be relevant 12 months a years and a leader across the best of everything chocolate cuts across all markets,\u201d Goldman says.<\/p>\n\n\n\n

The new strategies are paying off. \u201cDespite the fact that economies are still sluggish in most places around the world, our business now is growing double-digits,\u201d Goldman says. \u201cWe\u2019re putting up better numbers than we\u2019ve had in a long time. And we feel like we\u2019re just getting started.\u201d<\/p>\n\n\n\n

Lifesavers Get a Lift<\/h3>\n\n\n\n

This is not the first time Goldman has made bold moves to re-energize a brand. His leadership helped to transform Nabisco\u2019s Lifesavers division, says Conant, who headed Nabisco before he moved to Campbell. As president of Lifesavers, Goldman decided that this mature, modestly-growing brand could rise to the top of the confections industry. He proved right.<\/p>\n\n\n\n

\u201cThe secret was finding new ways to market traditional products while ramping up business development and creating a large portfolio of new products that leveraged what we were able to do well,\u201d Conant says.<\/p>\n\n\n\n

As head of Nabisco\u2019s refrigerated foods business in the 1990s, when Nabisco acquired Parkay Margarine, Goldman bucked tradition by introducing three tiers of margarine products \u2014 premium, popular, and value-priced.<\/p>\n\n\n\n

\u201cAs simple as that sounds, that was a radical step for the margarine category,\u201d says Colin Watts, then Nabisco\u2019s head of marketing for Refrigerated Foods and now chief innovation officer at Walgreens.<\/p>\n\n\n\n

\u201cWe always used to joke about getting voice mails from him with his latest idea in the middle of the night and at any time of day,\u201d says Sean Connolly, president of Campbell USA, who worked for Goldman as vice president of Food Brands at Campbell. \u201cHe was always thinking about how to take the business to a whole new level.\u201d<\/p>\n\n\n\n

At Godiva, some of the recent attempts to take the business to a whole new level have sparked skepticism along with excitement. In particular, Breuer cites the move into pharmacies and supermarkets. But when Goldman wants to sell a concept, his tenacity, diplomacy, and enthusiasm usually win the day, she says. \u201cHe tends to be a leader who can inspire others, whom others will take a leap of faith for.\u201d<\/p>\n\n\n\n

Goldman brings tremendous energy to his role as a corporate leader, Marberger says. \u201cWhen he feels strongly about something that\u2019s going to drive the business, and drive value, he is just passionate about it. And he\u2019s relentless.\u201d<\/p>\n\n\n\n

A deep interest in human dynamics \u2014 an interest that goes back to his days as an undergraduate psychology major, summer camp counselor, and high school teacher \u2014 is one of the keys to his success as an executive, says Goldman. \u201cI don\u2019t think you can be successful if you can\u2019t work with people successfully, if you can\u2019t motivate them and identify talent.\u201d He takes great pride in seeing how many of the people he has hired over the years have gone on to achieve great things, he says.<\/p>\n\n\n\n

Another key to Goldman\u2019s leadership is his ability to take stock of a situation and then make a firm decision. \u201cOver-analyzing can often lead you down the wrong path.\u201d Goldman says. \u201cAs a company, we\u2019re not going to be sitting here at the plate with the bat on our shoulders and be afraid to swing.\u201d<\/p>\n\n\n\n

There will be many occasions to take decisive swings as Godiva continues to pursue its new strategies. The trick will be to choose those swings wisely.<\/p>\n\n\n\n

\u201cWe have to make sure we focus in the right areas,\u201d Goldman says, \u201cthat we do it in a quality way and that we don\u2019t outstrip our ability to execute with excellence.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Jim Goldman, MBA \u201985, President and CEO , Godiva Chocolatier Like many successful leaders, Jim Goldman thinks outside the box. For the aptly-named Goldman, the box in question is a…<\/p>\n","protected":false},"author":33,"featured_media":9091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[171],"tags":[196],"ppma_author":[],"class_list":["post-9090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alumni-profiles","tag-archived"],"acf":[],"yoast_head":"\nA Brand for All Seasons - Cornell Business Centers & Institutes<\/title>\n<meta name=\"description\" content=\"Jim Goldman, MBA \u201985, President and CEO , Godiva Chocolatier Like many successful leaders, Jim Goldman thinks outside the box. 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