Ferrero announces the official opening of its Innovation Center in Singapore. It is the Italian confectionery company’s first Asian innovation center located at the heart of one of the world’s leading innovation ecosystems. The new center is designed to strengthen the company’s position as global innovation leader and will house several strategic innovation functions in the areas of health and nutrition, new raw materials and product research and development, consumer insight and foresight activities.
Innovation: a core value
At the innovation center, which has been supported by the Singapore Economic Development Board (EDB), a multidisciplinary team of experts in food science, biotechnology, nutrition, consumer insights, material science and design will engage with the vibrant Singapore ecosystem to foster the innovation process. The company Chief Executive Officer, Giovanni Ferrero, celebrating the opening of the new Ferrero innovation center commented: Innovation has always been a core value for us. Our products are the result of a strong passion for quality and research. The Singapore innovation center will support Ferrero in its continuous pursuit of cutting edge technological solutions to offer our consumers the best quality products that provide always new taste dimensions. Chairman of the Singapore Economic Development Board, Dr Beh Swan Gin, said: Ferrero’s decision to establish its first global Innovation Centre in Asia, in Singapore, reflects the significance of the rapidly expanding consumer markets in Asia, and underscores Singapore’s position as the region’s leading food and nutrition hub. We look forward to having Ferrero work with partners in Singapore to develop unique product offerings.
A dynamic and innovative environment
The decision to place the Ferrero Innovation Center in Singapore was motivated by its strategic location in Asia and its prominent role within the global scientific research community, which includes among others, the Agency for Science, Technology and Research (A*STAR) and relevant universities. Singapore represents a dynamic and innovative environment where scientific talent and resources combine with diverse Asian consumer demographics. This offers an ideal platform for experimenting with novel technologies and raw materials with the aim to develop and test new products in a market of strategic importance for the Italian confectionery company.
A confectionery giant
Ferrero began its story in the little town of Alba in Piedmont, Italy, in 1946. Today, with a consolidated turnover of over 10 billion euros, it is amongst the market leaders of the confectionery sector and the third worldwide Group in the chocolate confectionery market. The Group is present with more than 41,000 people across 53 countries; it has 22 production plants around the world, of which 3 are part of the Michele Ferrero Entrepreneurial Project in Africa and Asia. In addition, at the beginning of 2015, the Group set up the Ferrero Hazelnut Company (HCo) that includes 6 agricultural companies and 8 manufacturing plants.
Ferrero’s best known products
Nutella, Ferrero Rocher, Raffaello, Tic Tac and the Kinder line (Kinder Surprise, Kinder Joy, Kinder Bueno, Kinder Chocolate, Kinder Milk Slice, Kinder Pingui, Kinder Delice) are some of the Ferrero products, best known and appreciated by consumers all around the world. In fact, Ferrero’s products are present and sold in more than 170 countries; they have become part of the collective memory and customs of many countries, where they are truly loved generation after generation and often considered as cultural icons.
