Nutella stands out as the new competitor of peanut butter in the US

Nutella is an Italian product famous around the world. Ferrero - the Italian company based in Alba (Cuneo) - is the "father" of the well-known gourmandise. The company emerged as a colossus since it was founded in 1946 by Michele Ferrero, who has recently passed away (February 2015), but remain famus as the inventor of Ferrero Rocher.

Besides Nutella and Ferrero Rocher, Ferrero produces today Tic Tac and the Kinder egg. The new leader is the founder's son, Giovanni Ferrero, who has renewed the company's business model after 70 years. In particular, Giovanni has been at the forefront since 1997 with his brother Pietro, who died in 2011. After his father's death, Giovanni remained the only member of the family in the business and started a new line. The latter is based on a constant product innovation, modernity and expert managerial figures from abroad.

One of the goals of Giovanni Ferrero is also to conquer the American market, where a big Nutella's competitor is the peanut butter. At the moment, Ferrero has 2,3% of the market but it certainly aims at expanding this percentage. In his new innovative vision, Giovanni Ferrero sees tradition as a bow. During an interview for the Italian daily Corriere della Sera he declared that "the more the cord is  pulled, the more arrows can go far away". Giovanni wants to go on with his renovation plan, investing in new products and in consolidating his company's presence abroad. The great job he has done so far sparked the attention of other significant competitors, such as Mars and Nestlé.

Giovanni Ferrero is doing a very good job in keeping the company's fame up and to boost it at the same time. For this reason, he deserved the compliments of the American Wall Street Journal where we read, "When Michele Ferrero invented Ferrero Rocher, it took him 5 years to finalize the product...Giovanni launched a new snack in only 12 months".

Follow @castaritaHK