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Nestlé ramps up presence with $102m investment

来源:China Daily By Wang Zhuoqiong

Nestlé ramps up presence with $102m investment
A shopper buys Nestlé products at a store in Yichang, Hubei province. [Photo/for China Daily]
 

Switzerland-based food giant Nestlé SA is investing 730 million yuan ($102.2 million) in China to expand and strengthen its operations in the country, its second-largest market.

The company said it would also scale up its production capacity for high-end, innovative products in Tianjin, to meet rising consumer demand for plant-based products, snacks and pet food.

The investment is testimony to Nestlé's strong commitment in introducing more healthy and nutritional products in China, said Rashid Qureshi, chairman and CEO of Nestlé in China. According to Qureshi, China's food industry has been seeing an upgrade in preferences, with focus shifting from eating well and having enough to eat to eating healthily and with full joy that can come from the experience, a trend which will lead to further industrial upgrade.

"Chinese consumers are increasingly pursuing nutritious and healthy diets and are focused on getting even greater joy out of their eating experiences.

Additionally, as the pet economy booms in China, the public is pursuing more scientific ways of raising pets as well as attaching equal emphasis to pets' health," Qureshi said.

The three categories that Nestlé has invested more are responding to the rising consumer needs in China-health, well-being, new lifestyles and pleasure, said Jason Yu, general manager of Kantar Worldpanel China.

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