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Emmi in Asia Small and beautiful

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					Emmi in Asia:
Small and beautiful

Emmi Investor Day

Kaltbach/Lucerne, 7 December 2010
Patrick Diss, Head of Exports
Content




          Emmi outside the key markets


          The Asian markets


          Emmi’s current approach in Asia


          Examples: HK, Singapore, Japan, China


          Going forward
Emmi outside the key markets



Local presence in selected opportunity markets




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 3
Experience in opportunity markets



Opportunity markets are not new for Emmi

         -        Brazil                           since 1990
         -        Mexico                           since 1992
         -        Hong Kong                        since 1995
         -        Singapore                        since 1996
         -        Thailand                         since 1999
         -        Middle East (Dubai)              since 2000
         -        China                            since 2008
§     Emmi started with a presence in prestigious airlines and hotel chains,
      primarily with commodity products.
§     Since 2003, careful and successful expansion into retail, in addition to
      food service, with speciality products.
    Today’s exports:
    14 Asian, 10 Latin American, 7 Middle Eastern and 3 Eastern European countries
Emmi Investor Day, 7 December 2010, Patrick Diss                                     Page 4
Product range in opportunity markets



The flavour of Swissness with cheese and yogurt
§ Premium dairy concepts like Emmi Premium Yogurts
§ Natural Swiss Cheese
§ High-end processed cheese like fondue




Emmi Investor Day, 7 December 2010, Patrick Diss     Page 5
Content




          Emmi outside the key markets


          The Asian markets


          Emmi’s current approach in Asia


          Examples: HK, Singapore, Japan, China


          Going forward
Assessment of the Asian markets (1/2)



Opportunities and risks

§   Fast GDP growth                                §   Currency issues
§   Huge and growing population                    §   Local production
§   “Westernization”                               §   Protectionism
§   Urbanization                                   §   Influence of economic slow-downs
§   Asia “discovers” dairy products
§   Developing premium market
§   Clear segmentation at retailer level
§   New distribution channel
    (convenience stores)




Emmi Investor Day, 7 December 2010, Patrick Diss                                    Page 7
Assessment of the Asian markets (2/2)



Emmi’s strength

                                                   § Direct regional market approach
                                                   § Strong distribution network
                                                   § Unique logistics, freshness and adapted
                                                    product portfolio
                                                   § Clear brand positioning, superior Swiss image
                                                   § Status as regional player in partnership with
                                                    local partners
                                                   § Profitable and self-financed




Emmi Investor Day, 7 December 2010, Patrick Diss                                                Page 8
The value of Swissness



Swissness has a unique power
§ The Emmi brand is a synonym for the Swiss values and benefits from the
      unique USP “Made in Switzerland”
§ Premium quality, trust, safety and naturalness are appreciated and valued
      by consumers and buyers

      China: Image of
      Switzerland compared to
      benchmark countries
      (Scale of 1 to 100)




Emmi Investor Day, 7 December 2010, Patrick Diss                         Page 9
Content




          Emmi outside the key markets


          The Asian markets


          Emmi’s current approach in Asia


          Examples: HK, Singapore, Japan, China


          Going forward
Emmi’s strategic approach in Asia



The partner for premium dairy products in opportunity markets


§ Attractive range of premium dairy products for retail and food service with
    clear and consistent premium positioning.
§ The strengths are built on quality, origin, reliability and safety.
§ Branding and image are additional key factors: Swissness is a clear USP.
§ Our partners are selected with care and our business is built sustainably
    with a long-term vision.
§ Our investments are limited but efficient – our business is profitable.




     The dairy category, in particular the premium range, will continue to grow.

Emmi Investor Day, 7 December 2010, Patrick Diss                               Page 11
Development in Asia



Double digit growth p.a. is realistic
                                   300



                                   250



                                   200
Asia Turnover Index (2005 = 100)




                                   150



                                   100



                                    50



                                    0
                                            2005         2006          2007      2008   2009   2010   2014
                                         (2010 and 2014 are estimated figures)
      Emmi Investor Day, 7 December 2010, Patrick Diss                                                       Page 12
Turnover by country



Japan, Singapore and Hong Kong are Emmi’s top 3 in Asia

                                            Other
                                            18%

                                                                      Japan
                                                                       33%




                            Singapore
                               20%




                                               China           Hong Kong
                                               10%               19%




                                                       Japan   Hong Kong      China   Singapore   Other

Emmi Investor Day, 7 December 2010, Patrick Diss                                                      Page 13
Content




          Emmi outside the key markets


          The Asian markets


          Emmi’s current approach in Asia


          Examples: HK, Singapore, Japan, China


          Going forward
Emmi in Hong Kong




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 15
Growth index in Hong Kong



Sustainable, profitable growth realized within the last few years


                Total yogurt
                                                    32.6 %


                      Nestle
                                                29.7%

                     Yoplait
                                        15.2%

                        Emmi                                                                 126.0%

                      Anlene
                    -8.8%

                      Others
                                                   33.6%

                 -20%          0%      20%         40%       60%     80%     100%     120%     140%



                                                           Source : Value - Year 2010 - Nielsen 09_2010


Emmi Investor Day, 7 December 2010, Patrick Diss                                                          Page 16
Market share in Hong Kong



Emmi has a share of 16.4 % in the Hong Kong yogurt market


                  Nestle
                                                                                              43.5%


                  Yoplait
                                                                   22.0%


                   Emmi
                                                           16.4%


                  Anlene
                                       5.8 %


                  Others
                                                   12.4%

                            0%           10%               20%             30%        40%          50%



                                                            Source : Value - Year 2010 - Nielsen 09_2010

Emmi Investor Day, 7 December 2010, Patrick Diss                                                           Page 17
Excellent recognition in Hong Kong



Two Emmi products in the top 10 dairy products
 Rank        Brand             Product                                   Value     Price per   Price per
                                                                         % share   pack        kg
 1           Dairy Farm        Dairy Farm Nat. Plain 475-R               9.1       18.5        38.9
 2           Dairy Farm        Dairy Farm Deli. LF Blueberry 150g*3-M    3.3       17.4        38.6
 3           Dairy Farm        Dairy Farm Deli. LF Strawberry 150g*3-M   3.0       17.4        38.6
 4           Emmi              Emmi LF Blueberry 100g                    2.6       6.1         61.4
 5           Dairy Farm        Dairy Farm Deli. Strawberry 150g-R        2.6       5.8         38.4
 6           Dairy Farm        Dairy Farm Deli. Blueberry 150g-r         2.5       5.7         38.2
 7           Emmi              Emmi LF Strawberry 100g                   2.2       6.1         61.3
 8           Dairy Farm        Dairy Farm Lite Mango 150g                2.0       17.4        38.6
 9           Dairy Farm        Dairy Farm Deli. Mango 150g               1.9       5.8         38.5
 10          Anlene            Anlene Hi-Calcium LF Nat. 150g            1.9       5.9         39.2


 25          Emmi              Emmi Yoghurt LF Blueberry 1kg-R           1.1       59.3        59.3
 26          Emmi              Emmi Aloe Vera LF Yoghurt 100g-R          1.0       6.1         61.2
 28          Emmi              Emmi LF Raspberry 100g-R                  0.9       6.1         61.4
                                                                               Nielsen data HK January 2010
Emmi Investor Day, 7 December 2010, Patrick Diss                                                        Page 18
100% Swiss milk – a unique selling proposition




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 19
Emmi in the HK underground




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 20
Tastings the Asian way




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 21
Summary on Hong Kong



Strong base to continue success
§ N° 3 dairy brand in HK with strong and nearly full retail distribution
§ New additional distribution achieved in May 2010:
   1,100 CVS - convenience stores (Circle K and 7/11)
§ Emmi has now a numerical distribution of 93%
§ Mass communication can now be optimized and enlarged




   First ever dairy brand distributed via “Distribution Center” in HK CVS
   First imported dairy brand to be sold in CVS


Emmi Investor Day, 7 December 2010, Patrick Diss                            Page 22
Example: Singapore



Increasing demand for premium dairy products




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 23
Example: Singapore



Yogurt: Currently no.6 with 4.7% market share, aim to become no.4


                  Marigold
                                                                                        33.1%

                    Yoplait
                                                           15.5%

                      Meiji
                                                          14.5%

             Dairy Farmer
                                           5.4%

                      Paul
                                          4.8%

                     Emmi
                                         4.7%

                      Alive
                                         4.7%

                              0%      5%           10%   15%      20%   25%     30%      35%


                                                                         Source : Value - Nielsen
Emmi Investor Day, 7 December 2010, Patrick Diss                                                    Page 24
Example: Japan



Emmi cheese: Highly appreciated ingredient for hamburgers




Emmi Investor Day, 7 December 2010, Patrick Diss            Page 25
Example: China



Sales quintupled since launch in spring 2008




Emmi Investor Day, 7 December 2010, Patrick Diss   Page 26
Example: Food service channels



               Airlines                            Hotels




Emmi Investor Day, 7 December 2010, Patrick Diss            Page 27
Content




          Emmi outside the key markets


          The Asian markets


          Emmi’s current approach in Asia


          Examples: HK, Singapore, Japan, China


          Going forward
Going forward in the opportunity markets



Priorities                                                         Activities

1                                       •     Secure premium brand positioning
    Emmi brand                          •     Move towards “mass premium” with economic growth
                                        •     Work consistently on the key USPs
2                                        •    Enlarge distribution from niche to premium mass market –
    Distribution                              win more chains
                                         •    Extend distribution to new selected countries

3                                        •     Develop and introduce more new adapted products
    Product portfolio                    •     Establish Emmi as a global category player in retail


4                                        •     Start media communication
    “Communication”                      •     Win new airline and hotel contracts
                                         •     Increase media pressure in selected countries
5
    “Prepare”                            •     Identify and evaluate possible steps in selected countries
                                               (licences, acquisitions)

Emmi Investor Day, 7 December 2010, Patrick Diss                                                      Page 29
                                                   Emmi in Asia:
                                                   Small, beautiful and
                                                   successful




Emmi Investor Day, 7 December 2010, Patrick Diss                          Page 30

				
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