- Could you please elaborate on the new Joint Venture with Al Bustan Al Khaleeji and Ferrero in the Kuwait market?
This is a strategic agreement with our longstanding distribution partner Al Bustan Al Khaleeji (BK), a leading FMCG food distribution company operating in Kuwait. Thanks to the joint venture (JV) – named Fergulf Kuwait General Trading WLL – we can now work together to directly distribute Ferrero products across the Kuwaiti market. This will lead to new avenues of growth, which include opportunities for local business expansion and the development of new products or strategies.
Our JV with BK marks our second one in the region – in October 2018 we joined forces with our UAE distributor Al Seer Group to establish a direct distribution channel for Ferrero products in the United Arab Emirates (UAE), excluding Abu Dhabi.
- Can you tell us more about Ferrero’s latest trade figures and volume in Kuwait and its percentage share compared to the GCC market?
At Ferrero, our sales numbers are not made public. However, I’m proud to share with you that Kuwait’s market is an integral and important part of our regional growth strategy. Our sales are showing steady growth and we keep grabbing more market share, month after month – a trend that shows no sign of stopping – which we believe is a testament to the fact that our discerning Kuwaiti consumers are recognizing and appreciating the superior quality and freshness of our products.
- Is there any upcoming new products launch in Kuwait?
We have a robust pipeline of product launches taking place in Kuwait in the next year or so. One of the first ones that will hit the market – in early 2020 – is Tic Tac Gum. This new breakthrough innovation is a line of sugar-free gum to help you amp up your freshness!
4. How is Ferrero looking forward increasing its profits in the region? Can you tell us about your outlook at such a huge market in the future.
The GCC is a strategic key market in our area and one that we believe is rife with opportunities and, naturally, challenges as well.
The creation of JVs is a key pillar of our regional strategy. Our decision to form these partnerships was guided by a shared history of success with our distributors and a common vision for sustainable future growth. We are confident that, by ensuring a direct channel of distribution in key markets, we can take our business to new heights.
Innovation is and always has been the main driver of our growth. Over the past five decades, globally, we have created innovative products that have become, over time, true icons of the chocolate confectionary sector. We will continue to focus on innovation globally and regionally where it is set to play a pivotal role in our growth path. This will also enable us to continue to add value to our trade partners by enhancing their offerings to consumers.
Today, our sales performance in the region attests to the quality of our products and our ability to adapt and respond quickly to the needs of different markets. It is also rooted in the fact that our products are aligned with the daily needs of consumers.
Looking ahead, this will continue to be the case. After all, our unwavering focus on people and an unyielding dedication to quality are the strands of our company DNA.
5. Is Ferrero involved in any CSR activities and engagement with community activities in Kuwait?
At Ferrero, our commitment to social responsibility is demonstrated through our own CSR activities and philanthropic initiatives.
Since 1983, the Ferrero Group is used to channel all its own philanthropic initiatives through the Ferrero Foundation. Our Foundation essentially works mainly to improve the quality of life of Ferrero employees and seniors and following its mission: “Work, create, donate”.
Furthermore, Ferrero operates multiple Entrepreneurial Projects in emerging countries like Cameroon, South Africa and India; its commitment concretely improves local children’s living conditions through social projects (schools, infirmaries, orphanages etc.).
For more information on our CSR activities, we kindly invite you to read Ferrero’s CSR report available at www.ferrerocsr.com.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
