22 | ENE | 2019
Ferrero unaffected by presidential election
The director highlighted that both Mexico and Latin-America were “idea multipliers” inasmuch as they promote a culture of creativity, innovation, and sensitivity - Photo: Stefano Rellandini/REUTERS

Ferrero unaffected by presidential election

08/06/2018
19:57
Mexico City
-A +A
The uncertainty surrounding Mexico's upcoming presidential election hasn't affected Ferrero's growth trend in the country

The upcoming electoral process in Mexico won’t affect this year’s prospects for the Italian company Ferrero. According to Paolo Cornero, manager of the company’s branch in Mexico and Central-America, there’s a climate of confidence and directives trust that the next president will work for all Mexicans’ needs.

“I trust that whoever wins the presidency will be a leader for all Mexicans and will represent all of them, including Ferrero’s branch in Mexico. I’m sure he will give us a lot of confidence for the future of this country,” Paolo Cornero stated.

At the presentation of the eight Social Responsibility Report of Ferrero, the director of the Italian firm claimed that Mexico is one of the company's 10 strongest markets, with globally outstanding sales for certain products.

“Mexico is one of the 10 most important markets for Ferrero. Mexicans are the top consumers of Kinder Delice, third place consumers of Kinder Egg, and sixth place for Ferrero Rocher,” Cornero indicated.

Furthermore, he confessed that his main goal in Mexico was to maintain leadership in the chocolate market, as well as upholding the company’s growth trend. In 2018 alone, their sales have grown at a rate of between 7.5% and 8%.

One of the setbacks Ferrero is most cautious about is the volatility of the Mexican peso against the dollar since nobody knows exactly how long it will last.

To Cornero, the speculation and nervousness in the international market affect the company, but the situation had already been foreseen, and the company has already developed middle and short-term plans to solve the problem as soon as possible.

Another factor to consider this year is climate change since it is very likely that high temperatures during the summer will affect production for a couple of months. However, they expect a quick recovery in September and to resume their growth trend.

The director highlighted that both Mexico and Latin-America were “idea multipliers” inasmuch as they promote a culture of creativity, innovation, and sensitivity, factors they deem fundamental for the future of the chocolate corporation’s products.

Luigi Maccotta, the Italian ambassador in Mexico, was present at the company’s report presentation, as well as Miguel Márquez, governor of Guanajuato, who stressed that his state has received 800 million dollars in investment from Italian companies, including Ferrero.

dm

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