Bottom line: China’s chocolate market could follow the recent boom for coffee as a lifestyle product, benefiting foreign names like Nestle, Hershey and Dove that can tap the preference for premium brands.
Nestle, Hershey seek success in upscale chocolate
A couple of chocolate stories were in the headlines over the Lunar New Year holiday, spotlighting the big potential for the foreign treat to boom in a similar way that coffee has over the last few years. One story had Swiss giant Nestle (Zurich: NESN) saying it will look to chocolate and premium coffee to boost its stagnating China sales. The other had US chocolate giant Hershey (NYSE: HSY) also predicting strong growth for the China market, following its own recent local acquisition. Read Full Post…
US chocolate giant Hershey (NYSE: HSY) is in the headlines this wintry day in late December, with word that it’s dipping its toe deeper into China with a modest acquisition of a Shanghai candy maker. I’ll admit I don’t know much about Golden Monkey Food, even though this company being acquired by Hershey is based here in my adopted hometown of Shanghai. But a description of the company provided by Hershey, combined with my own perusal of Golden Monkey’s web page, makes this particular deal look like a good one for Hershey as it tries to take on hometown rivals Mars and Dove in China’s rich candy market. Read Full Post…
