What business leaders are watching at CIIE: Part I
What has Mars prepared for CIIE? What will your company exhibit during the event? Any exhibition highlights? Will Mars debut any new products?
Through our CIIE exhibition, we aim to showcase our full product portfolio from our diverse segments, ranging from pet care to confectionery/snacks and food.
Our Mars Wrigley confectionery business is using this occasion to launch a new healthy snack brand, Kind. In the category of treats, we will highlight Starbursts and Maltesers Crispy which we introduced to China recently.
Our pet care business showcases products such as our Sheba cat food and our brands Iams and Nutro. Our Royal Canin brand features a full line-up of new specialty products for adult cats of particular species and formulas created for the care of critically ill cats and dogs (ICU products).
We will also be debuting a new Mars Food category with the launch of our MasterFoods brand, including Master Foods Condiments (Tomato/BBQ/Mustard sauce), Masterfoods Herbs & Spices, MasterFoods Microwave rice, MasterFoods Honey, and Dolmio Pasta sauce, etc.
What do you expect to come out of CIIE? Any deals? Who are you targeting?
Apart from launching new products, we aim to leverage CIIE's unique platform to engage in dialogue, with stakeholders. Our presence is a reaffirmation of our commitment to driving quality growth and building sustainable value with Chinese stakeholders.
Do you think that CIIE will help drive the development of industries that Mars is currently active in? What is Mars China's strategy for those industries?
Thirty years ago, Mars brought the chewing gum- and chocolate category to China. A few years after that, we introduced pet food. Today, we take great pride in being a leader in all three categories. We manufacture most of what we sell in China locally. But we believe, CIIE can further spur the categories by providing even more variety through making it easier for manufacturers to import a wider range of products.
I believe that CIIE will help drive development across all Chinese industries by promoting cooperation between government and business entities as well as globalization and trade liberalization.
What do you think of China further opening its market to foreign companies? How has this benefited Mars? Any specific examples?
The Chinese government has provided substantive support for foreign companies. The government's promotion of e-commerce and logistics has helped grow and integrate our offline and online retail network. Mars has also benefitted from the Chinese government continuously improving the business environment with measures such as strengthened IP protection and deferred taxes for foreign investors reinvesting profits into the China market. These measures and many more have allowed Mars to flourish in China, and we look forward to developing in the future with the government's continued support.
What do you predict for the China market in the next three years? What key issues will you watch out for?
We are betting on consumer-led growth. The key to success is to remain relevant in the eyes of Chinese consumers. That's why we believe in a mix of China-led innovation and satisfying the Chinese consumer's desire to try products from around the world.
I'm confident that the China market will continue to grow. The premium/healthy snacks and pet care markets are projected to grow to $27 billion and $38 billion respectively. With our portfolio, we have an opportunity to grow along with these trends by providing consumers with high quality brands that address their interests – whether that's a focus on healthy living or a growing affection for pets.
