Ferrero Trading has announced that its travel-retail division has become a separate trading entity within the Ferrro group and has been renamed Ferrero Travel Market Division. The new division will have its own management team led by newly-appointed general manager Giannicola Losacco. The structural reorganisation follows two years of impressive sales growth of Ferrero brands in international travel-retail markets.
Losacco, who has been with the company for 14 years, has held a variety of marketing and category management positions, and has an in-depth knowledge of its premium brands including Ferrero Rocher, Kinder, Tic Tac and Nutella. He will be responsible for driving the development of the company’s global travel-retail business and will be assisted by marketing manager Serge van Wijck, sales manager Gilles Hennericy and their dedicated teams.
Losacco said: “It is an honour to take the reins of Ferrero Travel Market Division at such an important point in its development. There is great potential in the travel-retail markets for confectionery, a category that is growing despite the global economy, and Ferrero intends to take full advantage of that opportunity.”
In 2008 Ferrero increased sales by value by 68% and sales by volume by 56%, outperforming confectionery companies in all regions, according to industry analyst Generation Research.