Sweet! Hershey launching its first new brand in 30 years
Hershey, whose products include its iconic chocolate bars, is poised to roll out its first new line in 30 years. The brand, Lancaster, will go on sale in the U.S. early in 2014.
"The Lancaster brand will delight all consumers looking for a rich and indulgent experience ... rooted in our company's deep history," said Steven Schiller, Hershey's senior vice president for global sweets and refreshment.
In another first, a version of of the candy tailored to consumers in China was introduced there earlier this year. This is only time in the 120-year-old company's history that a product has debuted outside the U.S.
Hershey said the move is important to its global growth and "underscored the company's deep commitment to China."
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China has a $1.2 billion candy market, according to Schiller, and the chocolate maker plans a wider rollout of Lancaster there next year.
The new brand is named after founder Milton Hershey's first successful candy company, Lancaster Caramel, which was the foundation for Hershey.
Lancaster Soft Cremes will be available in caramel, vanilla and raspberry and offered in 8-ounce bags retailing for $3.99 and in 4-ounce bags for $2.49.
Hershey, whose products also include KitKat and Twizzlers, has been designing specific products for key international markets such as China, Mexico and Brazil.
The company said it will launch a "robust integrated marketing campaign" that will begin in the first quarter of 2014 and expects international sales to reach approximately $1 billion by the end of 2014.
—By CNBC's Karma Allen. Follow him on Twitter @iam_karma.