Big CPG companies are facing existential threats to their businesses. Oreo and Ritz maker Mondelez is trying to stay ahead with its innovation arm, SnackFutures.
Oreo and Ritz maker Mondelez has been trying to keep pace through SnackFutures, an innovation and venture hub that it started in late 2018 to develop new products.
SnackFutures' partnership with Uplift Food, for example, helped Mondelez learn how to use healthy ingredients in snacks while the startup got help developing new flavors. With Hu, SnackFutures saw the potential to expand it into areas beyond chocolate, while Hu wanted to capitalize on Mondelez's scale.
In a shift from former CEO and chairman Irene Rosenfeld, who prioritized megabrands like Oreo, Ritz, and Cadbury, Van de Put has also increasedon small but strong brands in local or regional markets such as Jubilee in Russia and Biskuat in Indonesia and shifted authority to local marketing managers.
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