Corporate Profiles - 2020 - 98

COMPANY OVERVIEW

Mondelez International, Inc.
Company moving to defend market share gains

M

ondelez International, Inc. is undertaking several initiatives aimed at
improving efficiencies and reducing

costs.
The company is removing 25% of its stockkeeping units (SKUs), a move that will allow
better-selling items to have more shelf space,
said Dirk Van de Put, chief executive officer.
SKUs that will be dropped represent less than
2% of company sales, and the 25% reduction
will be net, meaning Mondelez will launch a
number of new items, with a focus on agencies
and pack size architecture.
The plan is part of the company's approach
to defending unprecedented market share
gains for several of its brands. Mondelez began to see market share advances at the end
of 2019, and the trend accelerated significantly
when a majority of US consumers came under
stay-at-home orders due to the coronavirus
(COVID-19) pandemic.
"We were already obliged in this crisis to
work with a much smaller set of SKUs in order to make sure that the key SKUs are on the
shelf," Mr. Van de Put said in a July 28 conference call with analysts. "And what do we see?
Our sales are better. The shelf looks cleaner, and
we get some benefits from it."

The company also is taking advantage of its
direct-store delivery (DSD) system and integrating it further into the business at a time
when other companies are shifting away from
the model.
"The step change we've made in the supply
chain is better connecting our selling organization with DSD in with our logistics arm of
the supply chain," said Henry Glendon Walter,
president of North America.
The DSD helped Mondelez keep product
moving as e-commerce use surged more than
100% during the first half of 2020, Mr. Walter
said.
E-commerce will be a key area of focus for
the company moving forward, along with meeting consumers' varied definitions of health.
"Some consumers want permissible treats
with inclusions, like fruit and nuts, or they want
less-sweet chocolates or even their favorite
treats but in smaller portions," Mr. Van de Put

said. "Others want better-for-you options, like
gluten-free or the reduced sugar. And then for
many, well-being also comes through a story
around provenance and sourcing, like our organic Cote d'Or chocolate or our non-GMO
Triscuit.
"And finally, some consumers are looking
for functional benefits, like high-protein, super
foods or fortification. Our Perfect Bars are a
good example of this one."
Establishing foundations in fast-growing
snacking agencies is another priority.
"We will aggressively pursue opportunities,
such as pastries, bakery and bars, which are a
natural fit with our core portfolio," Mr. Van de
Put said, citing the ongoing expansion of the
Chocobakery portfolio as an example.
The company also has cast an eye toward
bolt-on acquisitions and medium-sized investments in recent years. In April it acquired a majority interest in Give & Go, a maker of sweet
baked foods, including the two-bite brand of
brownies and the Create-A-Treat brand of cookie
and gingerbread house decorating kits.
Chicago-based Mondelez International is
not providing a full-year financial outlook since
COVID-19 has limited visibility in a number of
markets. CP

Chief executive officer -
Dirk Van de Put

Mondelez International, Inc.
net earnings

Mondelez International, Inc.
net revenues

Mondelez International
share price
$64

$2,842

$3,395

$3,885

in millions

in millions

$58
$52
$25,896

$25,938

$25,868
$46
$40

2017

98 \ October 2020

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Corporate Profiles - 2020

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