The Hershey Co will expand its offerings in high-growth categories while reducing its total number of products by between 20% and 25% in the next 12 to 18 months, a Hershey spokesperson told just-food.
The company will add products to high-growth segments such as dark chocolate, cookies and savoury snacks, Stephanie Moritz confirmed. “Hershey will be expanding its offerings in areas that have gained in popularity. It will be cutting back brands that have proven less popular, but we are not releasing that information yet,” Moritz told just-food yesterday (24 April). It will also reduce its limited edition and seasonal offerings.
“We’re accelerating the development and introduction of innovative platforms,”said Richard H. Lenny, chairman, president and chief executive officer. “Specifically, we’re expanding our presence within the dark chocolate, refreshment, cookies, and single-serve snack nut segments. These platforms deliver highly incremental sales and profitability while enabling Hershey to leverage its iconic brands, marketplace leadership, and in-store presence. In addition, we’ll be reducing the absolute number of both existing and new products. This will streamline our business system and ensure the appropriate focus on these high growth initiatives.”