PepsiCo is creating a new unit that will focus on developing emerging brands. The new concept, called the Hive, will be part of the larger company and help foster smaller existing brands and create new ones, reports Fortune.
The starting place for ideas has to change, says Seth Kaufman, president of PepsiCo North America Nutrition, which will oversee the new unit. In the future, there won't be as many new multi-billion dollar brands, as consumers now have more choices amid a shifting retail landscape, Kaufman explains. But some of the largest opportunities will come from seeding and growing much smaller concepts. The Hive will look to expand PepsiCo brands like Maker Oats and Stubborn Soda, as well as develop brands that play on emerging trends, like seaweed or birch water, for instance, that would otherwise not get the attention within the larger company, according to the report. Full Story
Related: PepsiCo to Acquire Bare Snacks; SnackNation Raises $12M to Expand Service.
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