DEERFIELD, Ill., July 27, 2016 (GLOBE NEWSWIRE) -- Today, Mondelēz International (NASDAQ:MDLZ) announced it will enter China’s $2.8 billion chocolate market. Europe’s much-loved Milka brand will hit shelves in September with more than a dozen core products, alongside special editions created for seasonal occasions, as the company looks to capitalize on China’s growing love for chocolate.
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Mondelēz International is one of the world’s largest chocolate companies, with a portfolio of iconic brands, including Milka, Cadbury Dairy Milk, Côte d’Or, Lacta and Toblerone. Today’s move will enhance and accelerate the company’s growth plan, by introducing a global Power Brand to one of the world’s biggest markets.
“When we launched our growth plan last year, we said we’d focus on geographic white spaces where we could accelerate the growth of our core categories and Power Brands,” said Tim Cofer, Chief Growth Officer. “This is a perfect example of that plan in action – launching a snacking category where we’re already a world leader into an emerging market where we have an established, successful presence.
“We see enormous potential for the growth of the chocolate category in China, where consumption today is low – even by emerging market standards. We expect our industry-leading innovation, manufacturing, sales and marketing capabilities to attract more consumers, more often – growing our business and the category.”
Stephen Maher, President, Mondelez China, continued: “We’ve been operating in China for over 30 years so we know this market and what it takes to launch a business here. In 2012, we entered the gum category in China for the first time and have now built this into a $200 million business with two much-loved brands. The strength of our iconic Milka brand, combined with a winning recipe uniquely designed for Chinese consumers gives us great confidence that we’ll be successful with chocolate in China, too.”
About Mondelēz International
Mondelēz International, Inc. (NASDAQ:MDLZ) is a global snacking powerhouse, with 2015 net revenues of approximately $30 billion. Creating delicious moments of joy in 165 countries, Mondelēz International is a world leader in biscuits, chocolate, gum, candy and powdered beverages, with billion-dollar brands, such as Oreo, LU and Nabisco biscuits; Cadbury, Cadbury Dairy Milk and Milka chocolate; and Trident gum. Mondelēz International is a proud member of the Standard and Poor's 500, NASDAQ 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow us on Twitter at www.twitter.com/MDLZ.
This press release contains a number of forward-looking statements. Words, and variations of words, such as “will,” “expect,” “potential” and similar expressions are intended to identify the company’s forward-looking statements, including, but not limited to, statements about the company’s entry into the chocolate market in China; and growth of the chocolate category and the company’s business in China. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the company’s control, which could cause the company’s actual results to differ materially from those indicated in the company’s forward-looking statements. Such factors include, but are not limited to, risks from operating globally including in emerging markets; changes in currency exchange rates, controls and restrictions; continued volatility of commodity and other input costs; weakness in economic conditions; weakness in consumer spending; pricing actions; unanticipated disruptions to the company’s business; and competition. Please also see the company’s risk factors, as they may be amended from time to time, set forth in its filings with the SEC, including the company’s most recently filed Annual Report on Form 10-K. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
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Source: Mondelez International, Inc.