Swiss cough-drops and breath mints manufacturer Ricola has posted a 4.4% growth in net sales to CHF 339.3 million (€301.5 million) in its financial year 2018, up from CHF 324.9 million (€288.7 million) a year earlier.
The performance was boosted by sales in the Asian and American markets, along with Europe.
Business Expansion
In 2018, Ricola introduced various new products to the Swiss market including tea bags with Bio Suisse-certified herbs from Val Poschiavo.
It also expanded the international availability of its range of herb drops containing Fairtrade honey, including Honey Sage and Echinacea Honey Lemon.
Focus On International Markets
On 1 January 2019, Ricola introduced a future-oriented group structure to boost its performance in international markets.
The company has acquired a stake in the German distribution joint venture, CFP Brands, to expand its presence in the country by bringing together strong, innovative brands under one roof and marketing them jointly.
The company also launched its first subsidiary, Ricola Trading Shanghai Ltd, its first subsidiary in China.
Management Changes
The company appointed Thomas P. Meier as its new chief executive, effective 1 May 2019.
Commenting on the appointment, the former top boss of Franke Coffee Systems, said, “I’m looking forward to the exciting tasks that lie ahead at Ricola."
"For me, it is important that we uphold the values of this traditional company while introducing new ideas that can stimulate growth on a global scale,” he added.
He has succeeded Felix Richterich, who held the top job for 27 years. He will now focus on his strategic role as the chairman of the board of directors.
Eva Richterich, who took charge as the chief marketing officer at the business' global marketing and innovation department on 1 January 2019, will continue to represent the family on the company's executive board.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
