(CBS) — The Hershey’s Chocolate emporium in the heart of Chicago’s Magnificent Mile is closing, company officials confirmed today.

Hershey’s Chocolate World Chicago, which opened in 2005, will remain open through the holiday season before shutting its doors for good sometime in January. Company officials say they are developing “larger scale footprints” in other markets, such as Las Vegas and in New York City.

“We are focusing our efforts on larger scale footprints that allow for more experiential interactions between our consumers and our beloved and iconic brands,” a statement from a spokesperson said.

Hershey’s may open another retail store in Chicago eventually, the company said.

A carriage driver drives past the Hershey's Chocolate World store on July 16, 2014 in Chicago, Illinois. The store, located along the Magnificent Mile, sells Hershey products, gifts, and souvenirs. Hershey Co., the No.1 candy producer in the U.S., is raising the price of its chocolate by 8 percent due to the rising cost of cocoa. This is the company's fist price increase in three years. (Scott Olson/Getty Images)

A carriage driver drives past the Hershey’s Chocolate World store on July 16, 2014 in Chicago, Illinois. The store, located along the Magnificent Mile, sells Hershey products, gifts, and souvenirs. Hershey Co., the No.1 candy producer in the U.S., is raising the price of its chocolate by 8 percent due to the rising cost of cocoa. This is the company’s fist price increase in three years. (Scott Olson/Getty Images)