Italian food company Barilla is planning price cuts of 7% to 13% on a wide range of products, including pasta, biscuits, snacks, and bread, an initiative valid only in Italy.
The promotion will run from 1 February to 31 December 2024, and will apply to direct customers and distributors, according to media reports.
'This is a significant operation,' Barilla said in a statement. 'We are committed to helping Italian families struggling with rising food costs.'
Price Cuts
Barilla will implement the price cuts on a basket of products that are popular with millions of families.
This includes Spaghetti No. 5 and a large part of the pasta assortment, many Mulino Bianco products such as biscuits, snacks, rusks, and breads, and some Pavesi articles, such as Gocciole.
According to Istat, the prices of food items in Italy continued to rise in 2023, with an average annual growth of 9.8%, compared to 8.8% in 2022. Barilla's latest initiative is designed to help alleviate some of the pressure on Italian households.
Pricing And Quality
The company is also committed to other initiatives that promote the affordability and quality of its products.
These include investments in supply chains and production sites, research and development of new technologies, innovation and launch of new products, communication campaigns, and collaboration with partners in the distribution sector.
Last year, the Italian pasta giant said it plans to invest €1 billion over the next five years, of which half is earmarked for its home market, where it operates 15 factories and generates 41% of its turnover.
Speaking to daily Corriere della Sera, CEO Guido Barilla explained that the five-year plan will help Barilla boost its international presence in order to effectively compete with other food multinationals.
