Italian confectioner Ferrero has confirmed plans to enter Myanmar with the launch of two of its products.
Ferrero has already established a presence in south-east Asia and distributes its products in Singapore, Malaysia, Thailand, Indonesia and the Philippines. Ferrero said it is now ready to take up “the new challenge” of Myanmar, which is opening up to the West after political reform.
“The new stable Myanmar Government is encouraging Western companies to enter their country,” a spokesperson said. “We have decided to enter this new and emerging market now as Myanmar has only recently opened for business.”
Ferrero said its Tic-tac and Kinder products would be the brands to “satisfy” Burmese customers in terms of price and quality.
“With a population of over sixty million, the potential is huge,” the spokesperson said. “Our major brands are Ferrero Rocher, Nutella, Kinder & Tic Tac and they are already well recognised names in this part of the world. We are looking to expand awareness of our brand among the predominantly young new consumers.”
Fererro follows Haribo and PepsiCo in entering Myanmar. Haribo this month joined forces with Asian import, sales and marketing agency, DKSH, to expand its presence into Singapore and Myanmar.
PepsiCo said last month it could start distributing snack brands in the Asian country of Myanmar this year. It already sells drinks brands Pepsi-Cola, 7-Up and Mirinda through an agreement with local distributor Diamond Star.