Blog: The US isn't being forgotten amid the brouhaha on the BRICs
Dean Best | 21 April 2008
Week by week, the BRIC economies - quite rightly - command thousands of column inches in business pages around the world.
Soaring economic growth and rising incomes in Brazil, Russia, India and China present a lucrative opportunity for companies of all shapes and sizes, not least in the food industry.
Success in the US, however, is still equally important. The US remains the world's largest economy and, despite the downturn across the Atlantic, many executives in our industry harbour lofty ambitions for their businesses in the country.
Step forward, Paul Bulcke. Nestlé's new CEO appears to want the company to make greater strides in premium chocolate, with the US one of the company's target markets. At first glance, it appears a wise move. Demand for posh chocs is booming the US and is forecast to keep on growing.
Bulcke, however, faces tough competition. The success of Lindt and the imminent US launch of Cadbury's Green & Black's will present tough obstacles for Nestlé to overcome. Will Buckle regret missing out on Godiva?
Sir Terry Leahy is another believer in the American Dream. Last week, the boss of UK retailer Tesco took his chance to rebuff recent criticism of the company's fledgling US venture. The Tesco chief executive derided the flak as "gossip" and insisted the Fresh & Easy chain will "last for a generation".
That said, the jury is out on whether Tesco has the know-how to succeed in the US, not least because two weeks after saying it would put the brakes on expansion, it announced plans to open another clutch of stores in Las Vegas. Cue puzzled looks among some retail watchers.
Staying with retail, one question that looks close to being answered is the sale of UK convenience chain Somerfield. Last week, The Co-operative Group confirmed what we had told you earlier this month with the announcement that it is in talks to buy Somerfield. Are the UK's "Big Four" retailers set to become a "Big Five"?
A year after union officials alleged Fyffes abused workers on plantations in Central America - and called on the produce giant to be kicked out of the Ethical Trading Initiative forum - the company is...
Much of the chatter about where 3G Capital could look next has centred on packaged food - but might the private-equity fund be about to extend its foodservice empire?...
Headlines that Mead Johnson's board has backed Reckitt Benckiser's takeover bid will no doubt overshadow the other news on the group this week – that it is facing a US lawsuit from a “whistle blower” ...
Kantar Worldpanel issued its monthly supermarket share data in the UK this morning - and the numbers showed a change in the identity of the country's top five food retailers....
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone sales dampened by Europe, China