Annual Report 2022

North America

The “North America” segment grew by an impressive 15.7% to CHF 2.03 billion. Growth is broadly based. All subsidiaries – including Russell Stover – contributed to this result with double-digit growth rates. This is even more significant as the chocolate market was outperformed as a whole and the company’s position as market leader in the premium segment has been clearly consolidated. Consumers are acquiring a taste for high-quality chocolate and are increasingly switching to the premium products of our brands.

CHF 2.03 billion

Sales 2022

Map USA (graphic)


Lindt & Sprüngli
(USA) Inc.


million USD Sales

+21.4% growth

In the USA, the world’s largest chocolate market, Lindt & Sprüngli grew by a remarkable 21.4% to USD 705 million last year. Lindor remains by far the most important product line in the USA and was expanded to the flavors Almond Butter and Dark Strawberry. The latter variety was a successful addition to the product range on Valentine’s Day – Lindor’s most important gift event in the USA. The Excellence brand also outperformed the average growth in the dark chocolate segment, where it held its top position. This lead is to be expanded further and will include a new TV advertising campaign tailored specifically for the US market for the first time. The concept of dark chocolate is not yet as well established here as in Europe and therefore needs to be conveyed to consumers in a different manner. However, milk chocolate as the Classic Recipe brand has been particularly well received in the US market. An option with an oat drink was launched in this line, and, like all other innovations in this segment, has been very well received. In line with sales growth, we are adapting our capacities in the USA, which is why the production site in Stratham is currently being expanded. The project is on schedule and full production operation is planned in 2024 and 2025, which will significantly increase the plant’s capacity.

Map USA (graphic)

Ghirardelli Chocolate Company


million USD Sales

+13.9% growth

Ghirardelli generated sales of USD 727 million in the financial year 2022, which corresponds to organic growth of 13.9%. All sales channels contributed to this success, with the Group’s own shops generating the strongest growth. In particular, the reopening of the completely revamped Chocolate Experience flagship store in Ghirardelli Square paid off. One of the three stores at the Group’s historic production site was extensively expanded into a world of experience around the brand. This emphasizes the brand’s position as an important tourist attraction in San Francisco. Ghirardelli’s growth is well above the overall market, resulting in a distinct improvement in its market position. The most important franchise of the brand are the Squares, which saw significant double-digit sales growth with the new Caramel Brownie flavor and strategically well-conceived advertising investments. Business in the baking segment also increased. From the return in demand for products for professional use in the catering industry, we are also observing that consumers are eating out more often again.

Lindt Ghirardelli Chocolate product photo (Photo)
Map USA (graphic)

Russell Stover Chocolates


million USD Sales

+10.2% growth

Russell Stover increased sales organically by 10.2% to USD 377 million. Following a decline in the previous financial year, which was largely due to delivery problems, the subsidiary is now back on a positive development path. The changes in management and organizational structures have brought the desired results, and we expect this recovery to continue. The Group expanded its position in the praliné segment and was thus once again number 1 in Valentine’s Day business this year. Investments in automated equipment for stocking gift packaging improved the production processes and should have a significant impact in the coming year. In addition, a similarly improved Easter business was another important season. Russell Stover is also the market leader in sugar-free chocolates, which continue to show positive sales performance.

Russel Stover Assorted product photo (Photo)
Map Canada (graphic)


Lindt & Sprüngli (Canada) Inc.


million CAD Sales

+14.4% growth

In the Canadian market we increased sales by 14.4% to CAD 376 million. Growth was mainly generated by Lindor and seasonal product categories with the Gold Bunny as the most popular chocolate figure in the market. The Ghirardelli product range distributed by Lindt Canada has also performed well in the market. Lindor remains the most important individual brand in the entire chocolate market. Excellence continues to lead the dark chocolate category, although a trend towards milk chocolate can also be observed in Canada, to which we are catering very well with the Swiss Classic brand. Looking at the distribution channels, Lindt Shops were the sales drivers with the strongest growth, followed by retail customers. However, online channels, be they own channels or those of partners, have also continued to grow.

Map Mexico (graphic)


Lindt & Sprüngli de México, S.A. de C.V.



The Mexican market achieved organic growth of 19.3%, a significant improvement on the previous year and generated mainly with Lindor products. The main trigger for this sales leap was the first media campaign for Lindor in this market, meaning that we grew well above the market average in the pralinés segment, which is the most important chocolate category in Mexico. In addition, the most important seasonal sales take place at Christmas and on Valentine’s Day. On both occasions our Lindor products are very popular in Mexico.