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Milka, the new face of chocolate in China
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MONDELĒZ China (formerly Kraft Foods China) said it aims to drive further growth through the introduction of a new chocolate brand to tap the country's US$2.8 billion chocolate market.
Milka has hit the shelves in online and offline retail channels last month as the company hopes the new product line will boost revenue growth in China
Top chocolate brands in China include Mars Inc's Dove, with 26.2 percent share, followed by Ferrero Group's at 13.4 percent and Nestle SA at 8.7 percent, according to research firm Euromonitor International, yet the overall sales in the category fell 3 percent last year.
China still has huge room for growth and the potential to eventually match levels in Europe and other countries in terms of per capita consumption of chocolate.
"Introducing Milka to China will make us a truly multi category company that has biscuits, gum and chocolate businesses in China and we expect most of our future growth in China will come from chocolate and we also hope to get growth back in the category," Stephen Maher, president of Mondelēz China, told an interview with Shanghai Daily.
Mondelēz China is said to be investing more than US$100 million in the next three years in China to manufacture and launch the new brand, according to earlier media reports.
The biscuits and chocolate have a similar market size, Maher added, and with it's already strong foothold in the biscuits sector, it hopes to get a slice of the chocolate market and by bringing in the new product line into China.
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