Cadbury hopeful for Russian expansion
The Russian confectionery market, the second largest in the world, will see growth of 14-16 per cent next year, according to chocolate manufacturer Cadbury.
The firm, which operates two factories in Russia, is confident that it will be able to gain market share.
“Our projections for next year are fairly robust,” said Steve Strachota, regional managing director. “They assume we will be able to gain share in gum and chocolate as [Russian consumers] trade up from traditional Russian brands.”
He added that Cadbury had made sound investments which bode well for its future in spite of the current economic downturn.