Mondelez International launches snack innovation hub
Mondelez International has announced that it will launch a new innovation hub called SnackFutures to capitalise on the fast-growing snacking trend.
The American firm said that the hub will bring together internal talent and external partnerships.
It will also deliver funding to help support the creation of new brands and businesses in key strategic markets, the reinvention of small-scale Mondelez brands which have the potential for growth, as well as venturing with start-up entrepreneurs to launch new businesses.
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Set to launch in November 2018, Mondelez said the innovation hub aims to contribute $100mn in revenue growth by 2022.
“Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International.
“We are launching SnackFutures, a new forward-thinking innovation hub, to capitalize on new trends, and mobilize entrepreneurial talent and technologies to build and grow small brands with large-scale potential.”
Led by Cofer, the programme will offer expertise in brand marketing, consumer insights, research and development, innovation and corporate development.
SnackFutures says that three key strategic areas for the innovation hub are: well-being snacks and ingredients, premium snacks and ingredients as well as digital platforms and capabilities.