Nestlé's Freixe moves quickly to shake things up
Nestle—the company behind Nespresso and KitKat—is seeing fewer products fly off the shelves this year, even though overall revenue is up a bit.
CEO Laurent Freixe is moving quickly to shake things up, starting with a review of their struggling vitamin brands like Nature's Bounty and Osteo Bi-Flex.
Evaluation of bottled water business underway
Some vitamin brands could be sold off as Nestle shifts focus to trendier, premium options like Garden of Life.
They're also taking a hard look at their bottled water business, with the strategic evaluation of this segment progressing.
Freixe is pushing for more advertising
Freixe is pushing for more advertising and planning big cost cuts—about 2.5 billion Swiss francs by 2027.
With weak demand in China and higher costs for coffee and chocolate, Nestle still expects stronger organic sales next year and wants to keep profits steady at or above 16%.