In Italy, Ferrero, known for products such as Nutella, will take control of the online sales of some of its products by launching a webshop of its own. Yesterday, it was also announced that the Italian concern increased its net profit considerably over the past financial year.
A means of applying pressure?
Through the webshop, Italian residents will be able to order the well-known hazelnut spread and Kinder products, reports German trade magazine Lebensmittel Zeitung. The new distribution channel is in line with the expansion of Ferrero’s omnichannel strategy. For now, ordering is only possible in Italy. A timeframe for a potential launch in other European countries is not known.
In the light of the (difficult) price negotiations of the past months, it is, of course, also a strong signal to large supermarket chains. In October, the smaller jars of Nutella disappeared from the shelves at Belgian supermarket chain Colruyt because both parties could not agree on the price. At the beginning of this month, the discounter confirmed that the negotiations were over and would only sell large jars.
Profits skyrocket
Meanwhile, Belgian newspaper De Tijd reports that last financial year, which ran until the end of August, the confectionery group realised a net profit of 988 million euros, an increase of no less than 64 per cent. The group’s turnover of 12.7 billion euros was 3.4 per cent higher than the previous year.
Ferrero owes its strong profit growth not only to increased sales: the Italian company was also able to profit from favourable exchange rates and booked a solid profit on financial derivatives.
