Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Toblerone loses Swiss exclusivity as production shifts east

Published 06/23/2022, 09:29 AM
Updated 06/23/2022, 09:30 AM
© Reuters. FILE PHOTO: Toblerone Swiss milk chocolates are seen displayed in front of Mondelez International logo in this illustration picture taken July 26, 2021. REUTERS/Dado Ruvic

By Silke Koltrowitz

ZURICH (Reuters) -Toblerone maker Mondelez (NASDAQ:MDLZ) will shift some production of its triangular chocolate bars to Slovakia from Switzerland at the end of next year, losing the "Swiss" attribute on its packaging in the process.

"From the end of 2023, we'll add a limited Toblerone production in Slovakia," Mondelez spokeswoman Livia Kolmitz said in an emailed statement on Thursday, confirming a report by Swiss broadcaster SRF.

Food companies are facing high cost inflation, but Kolmitz did not connect the move to cost pressures, instead citing strong growth which also meant the firm would be increasing capacity at its Swiss production site in Bern.

"Bern is at the heart of the Toblerone story, we'll keep making our best-selling 100-gramme bars there," Kolmitz told Reuters, ruling out job cuts.

Toblerone was first launched in 1908 and has been exclusively produced in Switzerland since the early 1990s.

Under strict Swiss labelling rules, chocolate made abroad cannot be called "Swiss", and Mondelez will thus have to remove this reference.

"We'll relaunch the Toblerone packaging from this summer, saying the brand was 'established in Switzerland'", Kolmitz said, pointing to the brand's British website https://www.toblerone.co.uk/en for an idea of what the new packaging would look like.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.