Mondelēz International is launching a new innovation hub to capitalise on changing consumer trends and emerging growth opportunities in the snacking sector.
As well as reinventing small-scale Mondelēz brands with large-scale potential, SnackFutures will also invest start-up entrepreneurs to seed new businesses. Indeed, Mondelēz said it wants SnackFutures to contribute $100 million to revenue growth by 2022.
“Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International.
“We are launching SnackFutures, a new forward-thinking innovation hub, to capitalize on new trends, and mobilize entrepreneurial talent and technologies to build and grow small brands with large-scale potential.
“SnackFutures will unlock snacking growth opportunities around the world that respond to emerging trends and changing consumer preferences.”
SnackFutures launches this month with a cross-functional team of leaders, led by Mr Cofer, with targeted expertise in brand marketing, consumer insights, research and development, innovation and corporate development.
For the program’s initial innovation projects, SnackFutures will seek entrepreneurs, suppliers, nutritionists, food and technology engineers and other potential partners to collaborate on opportunities in three key strategic areas: well-being snacks and ingredients; premium snacks and ingredients, and digital platforms and capabilities