Snacks and confectionery multinational Mondelez International has announced the launch of an innovation hub called SnackFutures.
According to the manufacturer, the new hub was developed to tap into rapidly changing consumer trends, creating new opportunities in the snacking sector.
The innovation hub will join internal human resources with external partnerships to enable Invention of new brands and businesses in key strategic areas, reinvention of small-scale Mondelez brands with large-scale potential, and support venturing with start-up entrepreneurs to seed new businesses, Mondelez added.
Tim Cofer, executive vice president and chief growth officer of Mondelez International said: “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 is aimed at contributing $100 million to revenue growth by 2022. In a first phase the programme’s focus will be on “well-being” snacks, premium snacks and digital platforms and capabilities.