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Toppers®, and a relaunch of our successful grinders. Brand
support includes TV advertising featuring our chef character
in France, and both TV and radio advertising in the U.K. We
have just launched a print advertising campaign in the U.K.
that will be rolled out more broadly across Europe in 2008.
GORDON > Having just returned from several years in
Europe, I can tell you first-hand that we have turned a
corner with this business. We have reduced complexity,
focused on our most profitable businesses, built our brands
and developed our people capabilities.
The most striking example of our progress is in our
industrial business, where we have gone from approximately
500 customers in 2003 to 50 customers by the end
of 2007. In this market as well, we are focused on the
largest customers with the greatest potential for growth.
LAWRENCE> These customers are the leaders in their
industry, and many of them have multinational businesses.
In addition to a strong top-to-top relationship, we are supporting
them from our locations around the world with
product innovation and production.
ALAN> This is certainly true in China and was really the
origin of our business there about 15 years ago. We built a
facility to support the expansion of industrial customers in |
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this region and from this same facility, launched a line of
consumer products that is profitable and growing rapidly.
China, together with Australia and other countries in the
region, comprised 6% of 2007 sales. Our goal is to more
than double our sales in the Asia Pacific region by 2012. We
expect to continue our rapid pace of both consumer and
industrial sales growth in China and to expand into other
markets with good growth characteristics, such as India.
Across all markets, what eating trends are you
watching most closely?
ALAN> McCormick is on the leading edge of flavor. Every
year we bring together top chefs to discuss the hottest
trends and develop our McCormick Flavor Forecast™, which
is eagerly awaited by professional chefs and food editors.
I would say consumers’ interest in health and wellness
is the number-one trend. We recently launched the
McCormick Science Institute to advance the health benefits
of natural spices and herbs. As
consumers work to reduce their intake
of fat, salt or sugar, McCormick is
ideally suited as an expert in natural
spices and herbs.
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