Swiss food behemoth  Nestlé is to launch a new chocolate bar called Blue Label in a bid to challenge the supremacy of Cadbury’s Dairy Milk in the UK confectionery market.

According to trade magazine The Grocer, a 200 gram bar of Blue Label will sell for 79p – 50p less than the recommended retail price for a Dairy Milk bar of the same size (79p = US$1.45).

Blue Label will initially be sold in two flavours – milk chocolate plus fruit and nut. Graham Walker, from Nestlé Rowntree, told the magazine: “We are the ones who are leading the innovation in this category and it is us – not our competitors – who will continue to drive its growth.”

Cadbury recently announced a rival to Nestlé’s Kit Kat bar when it unveiled a new product called Dairy Milk Wafer.