Core Insights - Western consumer brands have long sought to penetrate the Chinese market, but they still have much to learn about Chinese consumers and must adapt quickly to avoid obsolescence [1] Group 1: Market Dynamics - The assumption that more stores, wider coverage, and higher brand recognition will guarantee success in China is increasingly being challenged [2] - Chinese consumers are evolving rapidly, showing greater focus on cost-effectiveness and local tastes, which has outpaced the expectations of Western brands [2][4] - In the past two years, especially in lower-tier markets, Chinese consumers have favored local brands that are more flexible in pricing and product offerings [4] Group 2: Competitive Landscape - Local coffee brands in China have surpassed some well-known Western brands in store numbers, successfully adapting to consumer preferences for promotions, app ordering, and localized flavors [4][6] - Chinese convenience stores have proliferated, often outnumbering foreign competitors, due to their effective supply chains, rapid expansion, and product assortments tailored to local needs [5] - Local brands are not just cheaper; they are faster, more data-driven, and willing to deviate from global templates, allowing for quicker product iterations and promotional strategies [8] Group 3: Strategic Recommendations - The Chinese consumer market remains vast, and foreign brands that fail to adapt will face consequences; they need to abandon one-size-fits-all global strategies [9] - Businesses must align their models more closely with the actual behaviors of Chinese consumers rather than relying on assumptions from global headquarters [9]

Three boards members, including the chair, will be term limited under new rules imposed by Magnum Ice Cream. ...

Ben & Jerry’s has made changes to the corporate governance rules for its board, moves that will lead to the departure of its chair. The changes are intended “to preserve and enhance the brand's historical social mission and safeguard its essential integrity”, the US business said. Ben & Jerry's is now part of the new The Magnum Ice Cream Company, the publicly listed ice-cream business spun off by Unilever earlier this month. Ben Cohen, one of the co-founders of Ben & Jerry and who sold the business to ...

Earlier this week, Unilver spun off its ice cream business as the Magnum Ice Cream Company, MICC, for all you home gamers, creating the first pure play ice cream stock that I can recall. Unilver announced this nearly two years ago, but to be honest, I really didn't pay a lot of attention to it. So, it took me by surprise when I came into work yesterday to see this multi-story tall banner of ice cream outside the New York Stock Exchange with free samples flowing ON THE FLOOR.CLAWIKE BARS FOR ALL. I'm still m ...

Core Viewpoint - Unilever PLC is undergoing significant changes, including the demerger of its ice cream arm, which has led to mixed reactions from analysts and investors [1][3][6] Financial Performance - UBS maintains a "Sell" rating for Unilever, adjusting its price target from 4,635 GBp to 4,440 GBp, indicating potential challenges ahead [2][6] - The current stock price of Unilever is $64.19, with a market capitalization of approximately $158.79 billion [5] Market Growth and Challenges - The demerger of Unilever's ice cream, tea, and coffee businesses raises concerns about market growth and earnings dilution, with UBS suggesting an 8.4% potential downside from the current share price [3][6] - Unilever aims for mid-single-digit underlying sales growth in the medium term, despite current market volume growth being closer to 1% [4][6] Operational Expectations - Unilever expects its operating margin, excluding ice cream, to be at least 19.5% for the second half of the year [4] - The company reaffirms its fourth-quarter volume growth guidance to match the third quarter's 1.7% [3]

But I do have to ask you about Ben & Jerry's because it's been a bit of a basket case on the leadership front and with this with this whole independent board and its social activism. What are you going to do with all that. >> No, Ben and Jerry's great.We grew the business six time. It's now really profitable. When >> the founder says that if it remains part of your company, it will fail.>> Ben and Jerry are run by a totally capable management team who can run a progressive social mission. Ben wants the busi ...

Core Insights - The spin-off of the ice cream business from Unilever is driven by the need for focused management and investment in the ice cream category [1] - The ice cream industry is experiencing growth, with improved margins and market share gains reported [2] - The company is successfully increasing volume in a challenging consumer goods environment while maintaining profitability through disciplined productivity programs [3] Industry Overview - The ice cream market is characterized by a dualopoly in most countries, where typically only two major players dominate, leading to challenges for smaller startups [4] - Key cost drivers in the ice cream business include raw materials, packaging, and labor, particularly dairy and chocolate [5] - There is significant potential for market penetration in regions with low consumption rates, such as India, where per capita consumption is only 0.5 liters compared to 10 liters in developed markets [5] Product Strategy - The company emphasizes the use of natural ingredients and has committed to avoiding artificial flavors, aligning with consumer preferences for purity and quality [6]

Corporate Action - Unilever's ice cream spinoff's trading debut faces shutdown delay [1]

Core Insights - FAT Brands Inc. plans to open 10 co-branded Great American Cookies and Marble Slab Creamery stores in Iraq over the next five years in partnership with Eric Wilson, a U.S. military veteran [1][2] Company Overview - FAT Brands is a leading global franchising company that owns 18 restaurant brands and operates over 2,300 units worldwide [4] - The company has a strong presence in Iraq with seven locations to date and aims to expand further due to increased demand for American brands [2] Brand Highlights - Great American Cookies, founded in 1977, is known for its Original Cookie Cake and chocolate chip cookie recipe, offering a variety of baked goods including brownies and Double Doozies [2][5] - Marble Slab Creamery has been innovating in the ice cream sector since 1983, known for its frozen slab technique and offering homemade, small-batch ice cream with free mix-ins [3][6]

Strategy and Growth - General Mills aims to accelerate growth by driving remarkability in its offerings [7] - The company's strategy focuses on core markets, global platforms, and local gems, with a goal of organic net sales growth of +2% to 3% and adjusted operating profit growth in the mid-single digits [9] - Portfolio reshaping through acquisitions and divestitures has added approximately 1 percentage point to long-term growth exposure [23] - Nearly 30% of the net sales base has been turned over since fiscal year 2018 [25] Financial Performance and Outlook - General Mills reaffirms its fiscal year 2026 financial outlook, including organic net sales growth of -1% to +1%, adjusted operating profit growth of -15% to -10%, and adjusted diluted EPS growth of -15% to -10% [317] - The company anticipates approximately 5% headwinds from the net impact of divestitures and acquisitions and 3% from normalization of corporate incentive expense in fiscal year 2026 [317] - Holistic Margin Management (HMM) cost savings are projected to be 5% of COGS in fiscal year 2026, continuing a long-term trend [22] - General Mills returned nearly $14 billion to shareholders between fiscal years 2019 and 2025, including $9 billion in dividends and $5 billion in net share repurchases [340, 341, 343] Segment Performance - North America Retail segment is focused on building remarkable brands in food [46] - North America Foodservice segment reported $2.3 billion in net sales in fiscal year 2025 [158] - North America Pet segment is identified as the largest growth opportunity for the company, operating in a $56 billion U S category and a $142 billion global category [190, 189] - International segment reported $2.8 billion in net sales in fiscal year 2025, with global platforms expected to drive 75% of its growth over the next three years [268, 280]