Mondelez News

Mint reported that Mondelez India, known for its popular chocolate brands like Cadbury Dairy Milk and Toblerone, has doubled its rural footprint in the past five years. Rural sales now contribute a quarter to the company's traditional trade revenue, as households in even smaller villages, some with populations as modest as 3,000, are spending disposable incomes on its chocolates.

ITC Ltd has overtaken rivals Adani Wilmar, Britannia, Parle Products and others to become the country's largest fast-moving consumer goods (FMCG) manufacturer in the foods space by domestic sales in the nine months to September, as per the latest data by market tracker NielsenIQ shared by three industry executives. ITC clocked food FMCG sales of ₹17,100 crore in the period, while Britannia was at ₹16,700 crore, Adani Wilmar at ₹15,900 crore, Parle Products at ₹14,800 crore, Mondelez at ₹13,800 crore and Hindustan Unilever Ltd (HUL) at ₹12,200 crore, NielsenIQ data showed. ITC has jumped from the fourth spot in the same period last year, when Adani Wilmar was leading the market. Adani Wilmar's sales in the January-September period last year stood at ₹16,100 crore, while Britannia was at ₹14,900 crore, Parle at ₹14,800 crore, ITC at ₹13,900 crore and Mondelez at ₹12,400 crore, as per NielsenIQ data. The industry executives said one of the key reasons ITC managed to overtake Adani Wilmar was due to the steep fall in edible oil prices. That has impacted the revenue of the country's largest edible oil company in the nine-month period.

When she applied for a job at a creative agency that worked with the snack maker Mondelez, Kyra James wanted to throw in something sweet. A big fan of the company’s Sour Patch Kids, James mocked up a screenshot of a video call with some of the tart, sugar-encrusted gummies. The colorful waifs waved back at her.

RBC Capital upgraded shares of Mondelez (NASDAQ:MDLZ) to Outperform from Sector Perform in a note Monday, raising the price target for the stock to $83 from $75 per share.

Warren Buffett's company unloaded a number of the smaller investments in its portfolio in the third quarter including GM, Mondelez, Johnson & Johnson, UPS and Procter & Gamble

Investing.com — Warren Buffett's Berkshire Hathaway (NYSE:BRKb) exited its stake in a number of big-name publicly-listed U.S. businesses, including healthcare giant Johnson & Johnson (NYSE:JNJ) and carmaker General Motors (NYSE:GM), according to a closely-watched filing with the Securities and Exchange Commission on Tuesday.

Nick Train (pictured), manager of the Finsbury Growth & Income trust.

Centuries later, the Mayans, followed later by the Aztecs in the 15th century, believed that chocolate came from the gods. Divinity combined with healing and taste led to the gradual spread of chocolate across the world — with the global chocolate market size valued at around $127.7 billion as of 2023.

Indian market has outperformed the rest of Asia Pacific including China for some of the biggest global consumer goods companies in the past quarter, according to their post-earnings management commentaries. Several of these companies, including Mondelez International, PepsiCo, Coca-Cola, Pernod Ricard, Colgate-Palmolive, Unilever, Levis Strauss & Co, Yum! Brands, Honeywell International and AO Smith, reported strong growth going up to double digits in their India businesses in the July-September quarter.

Investing.com — Stocks rallied to close out the month, though it was still ugly for the indexes.

Investing.com -- U.S. stock futures point higher, with investors preparing for a busy week of central bank decisions, economic data, and company earnings. Meanwhile, HSBC rolls out fresh share buybacks despite missing third-quarter profit expectations and a Hong Kong court gives embattled developer China Evergrande (HK:3333) one last opportunity to present a new restructuring plan or face liquidation.

The executive chairman of Bega Group says it is on the right path by tilting its business further towards branded pantry products such as Vegemite and Dare iced coffee, in a bid to restore its fortunes after the share price halved in two years.

World Food India to be held from November 3-5 in the national capital. The first edition was held in 2017, but in consecutive years the international event could not be organised due to the COVID-19 pandemic, it said. «We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here.

NEW DELHI : India’s leading online retailers are gearing up for a head-to-head clash with their annual festive season sales events starting in October and stretching until mid-November, coinciding with the cricket World Cup, which companies say will boost demand for discretionary products such as TVs and clothing after two subdued quarters. On Friday, Amazon announced it will kick off its ‘Amazon Great Indian Festival’ (GIF) on 8 October, in sync with Flipkart’s The Big Billion Days sale, to deny any early advantage to chief rival. Amazon had earlier advertised a 10 October start date for the event.

₹80, a craft chocolate bar can cost anywhere between ₹200 and ₹400. But unlike beer or coffee, chocolates have a wider consumer base, including children. The appetite appears to be growing fast.

₹596 crore in FY22. Its profit after tax was at ₹10.8 crore, according to a 22 December report by ratings agency ICRA Ltd. It reported revenues of ₹439 crore in the first seven months FY23, up 32% from a year ago.

healthcare following the pandemic is leading to robust growth in opportunity for businesses, and consumers are definitely not downtrading on health, said Brian McNamara, global chief executive of Haleon, the consumer healthcare company spun off from GlaxoSmithKline Consumer. Last year, British consumer healthcare company GSK had separated its consumer healthcare business from GSK Group to form Haleon, an independent listed company that sells non-prescription drugs, vitamins and oral care products.

Legacy non-tech companies — the likes of steelmaker Tata Steel, engineering firm Larsen & Toubro and chocolate major Mondelez — are too hiring AI talent, as they adopt new technologies to stay ahead of competition. According to recruitment services firms, demand for AI talent from non-tech sectors is as much as 50% more compared with last year.

By Richa Naidu and Martin Coulter

Nestle to consumer goods multinational Unilever, are experimenting with using generative AI software like ChatGPT and DALL-E to cut costs and increase productivity, executives say. But many companies remain wary of security and copyright risks as well as the dangers of unintended biases baked into the raw information feeding the software, meaning humans will remain part of the process for the foreseeable future.

HDFC Bank picked up about 1 lakh sq ft office space spread across two towers of Blackstone Group backed Nucleus Office Parks' commercial complex One International Center in Mumbai's business district Lower Parel through a long-term lease of five years, said persons with direct knowledge of the development. The deal is the first real estate transaction by the bank following after its merger with the group's non-banking finance company Housing Development Finance Corporation (HDFC), indicating the need for additional space for expanded operations. «The new office will be used for consolidation and expansion of the bank's operations including financial services and credit cards.