Mondelez International, the maker of brands like Oreo, Toblerone, and Sour Patch Kids will launch a business unit this November – SnackFutures – aimed at developing the future of snacking.
Mondelez said it is seeking to engage with entrepreneurs, suppliers, nutritionists, food and technology engineers and other potential partners in “well-being snacks and ingredients, premium snacks and ingredients, and digital platforms and capabilities”.
SnackFutures will focus on three areas: the “invention of new brands and businesses in key strategic areas”; the “reinvention of small-scale Mondelez brands with large-scale potential”; and “venturing with start-up entrepreneurs to seed new businesses”.
The new innovation hub will focus on three areas the company feels are ripe for growth: well-being snacks, digital platforms, and premium snacks, according to Mondelez EVP and chief growth officer, Tim Cofer.
“SnackFutures is about capitalizing on new trends, mobilizing this ecosystem of entrepreneurs and the best of internal all towards our end goal which is consumer-centric growth and to really advance our global snacking leadership,” he says.
Nasdaq-listed Mondelez hopes the operation will generate an additional US$100m in revenue by 2022, the Illinois-based firm said in a statement today (30 October). The company posted net revenues of around $26bn last year.
Shoppers can expect to see the results of the new team’s efforts on shelves as soon as 2019, according to Cofer.