Nestlé aims to boost brand in search of growth

Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office. + Get the most important news from Switzerland in your inbox Freixe wants to drive forward "operational excellence". To this end, he is investing in marketing and cutting costs. The medium-term targets are being lowered. According to a statement issued on Tuesday, Nestlé will increase its investment in advertising and marketing activities to 9% of sales by the end of next year. These currently stand at around 8%. In this way, Nestlé intends to drive growth, as the company announced at its Investor Day on Tuesday. Based on annual sales of just under CHF93 billion in 2023, this would be CHF1 billion more than before. The company will "make targeted investments in successful brands and growth platforms, focus innovation activities even more strongly to achieve a greater impact and systematically address underperforming areas", it said. "Nestlé's ...