Nestle wants bigger piece of high-end chocolate
Published on Jun 8, 2014 4:07 PM
ZURICH/LONDON (REUTERS) - Nestle's chief executive, who oversees a sprawling empire stretching from baby food to wrinkle treatment, admits to finding one of its oldest businesses, chocolate, a source of frustration.
Nestle is one of many consumer goods companies trying to tap interest in high-end, natural, artisan, exclusive or organic goods to augment packaged food sales that have been sluggish in Europe and North America since the global recession.
Its Nespresso brand enjoys a comfortable position at the high end of the coffee market, helped by exclusive distribution, break-through technology and ads with George Clooney.
But the company has not done the same in chocolate. "Premium chocolate is my small intimate frustration," Chief Executive Paul Bulcke told investors at a conference in Boston on June 4 where he also discussed the company's shrinking appetite for underperforming brands.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here