Reported 2 days ago
Nestle, under new CEO Laurent Freixe, aims to cut costs by at least $2.8 billion by 2027 while significantly boosting its advertising and marketing budget. Following disappointing sales growth during the previous leadership, the company plans to carve out its water and premium drinks businesses, and will invest up to 9% of total sales in marketing by 2025 to enhance revenue. The strategy focuses on improving efficiency and supporting core brands like Nescafe and Maggi.
Source: YAHOO