Venchi Launches "Stardust" Gelato In Collaboration With Golden Goose
Venchi, the Italian chocolatier and gelataria, has announced the launch of a new limited-edition gelato flavor called "Stardust." The flavor, a collaboration with Italian luxury fashion brand Golden Goose launched in celebration of "La Notte di San Lorenzo," or the night of wishes and shooting stars in Italy, features a blend of sweet caramel and intense chocolate and is topped with a star-shaped chocolate coin. The new gelato is being rolled out in select markets including the USA, Saudi Arabia, the UAE, Malaysia, Singapore, and Italy.
Venchi’s Strategic Maneuvers In A Competitive Landscape
Venchi's market position is a story of contrast and strategic growth. In Singapore, the brand is a dominant force in the direct-to-consumer (DTC) chocolate confectionery market with a sizeable market share, ahead of rivals like Awfully Chocolate and Läderach. Conversely, in the USA, Venchi's market share in the DTC channel is a more modest single digit share, placing it behind a number of established players, including the overwhelming leader See's Candies and Kilwins. Similarly, in Malaysia and the Middle East (in countries such as Saudi Arabia, the UAE, and Qatar), Venchi's presence is not as pronounced, though recent strategic initiatives suggest a concerted effort to grow in these regions.
The collaboration with Golden Goose is a significant strategic move for Venchi. By aligning with a luxury fashion brand, Venchi is not only generating buzz but also enhancing its brand equity and appeal to a premium, style-conscious demographic. This collaboration is particularly impactful in markets where the brand is less established, such as Saudi Arabia and the UAE, where the Golden Goose brand may provide a halo effect. In more mature markets like Singapore and Italy, this initiative reinforces Venchi's position as a forward-thinking, lifestyle-oriented brand.
This product launch is part of a broader set of strategic activities undertaken by Venchi this year. The brand is actively expanding its physical footprint, as evidenced by the opening of its first store in Kuwait. They are also focusing on product diversification and regional customization, with launches of the Pistachio Gran Gourmet egg in UAE, Kuwait, and Qatar, and a limited-edition Mid-Autumn mooncake collection in China (Taiwan), demonstrating a nuanced approach to local markets.
The competitive landscape is marked by similar strategic initiatives from key rivals. Godiva, for example, is highly active with a range of product launches. In Malaysia, they released limited-edition Chinese New Year and Easter chocolates, and rolled out a "Dubai-style chocolate" in the UK exclusive to Tesco. Godiva has also engaged in high-profile collaborations, such as the one with Nintendo in Japan and with Labubu for a limited-edition ice cream and milkshake collection across multiple Asian markets, including Singapore and Malaysia, highlighting a focus on youth-oriented collaborations and a nod to growing consumer interest in East Asian IP and influences.
Läderach, another significant competitor in the DTC channel (in markets including Singapore and Saudi Arabia), is also pursuing an aggressive growth strategy. The brand's market position is bolstered by its freshness as highlighted by its various FrischSchoggi product launches. The company is actively expanding its physical presence with new store openings in Egypt, Turkey, the UK, the USA, and Canada. Läderach is also demonstrating regional relevance with launches of Dubai Pralines and FrischSchoggi Dubai Dark in the Middle East and a Granola & Dark Chocolate variant in Malaysia.