A day after Hershey announced plans to launch a new brand in China — marking the first time the company launches a new brand outside the U.S in its 120-year history — the company announced plans to open its Asia Innovation Center in Shanghai.
Hershey is heading to China to launch a candy brand called Lancaster, marking the first time in its 120-year history that the company has launched a new brand outside of the United States.
Hershey is ready to extend its global footprint, and as part of its initiative to drive that growth, the company hosted its first Global Partner Summit, an open innovation forum.
The Hershey reported a net sales increase of nearly 6%, driven by core brand volume. Consolidated net sales were $1.8 billion for the first quarter ended March 31, compared with $1.7 billion for the same period last year.
The Hershey Company recently partnered with the Academy of Art University in San Francisco, Calif. to provide students with a hands-on package-design opportunity.
Just one month after filling in as the interim leader of chocolate giant Hershey, John Bilbrey officially took the reigns as president and CEO of the company.