Mondelēz to reintroduce well-known trademarks in Venezuela

By E.C.V. & ASOCIADOS

According to a Bloomberg report, Mondelēz International, one of the world's largest snacks companies, plans to make its largest investment in Venezuela in at least three years to strengthen production in its two factories in the country and reintroduce some of its well-known trademarks in the market, after the economic crisis and chronically high inflation forced the company to remove products from its portfolio during the last years.

“The investment comes amid a surprise economic recovery with GDP expected to grow 7.6% this year. Largely thanks to the widespread use of the US dollar, consumers helped lift the nation out of a seven-year recession that drove out multinationals and halted foreign investment,” Bloomberg states in its report. Mondelēz also sees other signs of optimism, including the United States easing some sanctions on the oil industry.

“We’re betting that this translates into more consumption and employment,” said Rubén Echeverri, General Manager for Mondelēz in Venezuela. “We’ll have to wait for it to happen. But at the end of the day, it’s a sign that things are going in a positive direction and our work was to reconnect our brands,” he added.