Mondelēz International has announced the launch of a forward-thinking innovation hub - SnackFutures - that will capitalise on changing consumer trends, and emerging growth opportunities in the snacking industry.
The innovation hub will be uniquely structured to bring together internal talent, and build an ecosystem of external partnerships and dedicated funding resources that will be utilised to achieve three core goals.
These include reinventing small-scale Mondelēz brands that have the potential to be transformed into large-scale brands, and teaming up with start-up entrepreneurs for new businesses.
The hub also aims to achieve $100 million (€88.4 million) in revenue growth by 2022.
'Unleashing Innovative Ideas'
Executive vice-president and chief growth officer of Mondelēz International, Tim Cofer, said, “Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy.”
The SnackFutures team, led by Cofer, will comprise leaders with expertise in brand marketing, consumer insights, research and development, innovation and corporate development.
The hub is also seeking creative, entrepreneurial individuals and partners with great snacking-related ideas or capabilities to join them in this endeavor.
For the initial innovation projects, it seeks entrepreneurs, suppliers, nutritionists, food and technology engineers and other potential partners to collaborate on various opportunities.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.