Lotte to chew at the local gum market
23/8/2004 10:07
Jane Chen / Shanghai Daily news
"Lotte,"billed
Japan's top brand of chewing gum, is aiming to replace the US brand "Wrigley's"
in the next three years in an aim to become China's no. 1 gum supplier, today's
Youth Daily reported. The report citesa senior "Lotte" official in charge of the
China market who was present for a promotional event in Shanghai,
yesterday.
.
More than 100 chewing gum brands are competing in China, with
an extra 10 percent more joining the battlefield every year.
Among the
new-comers include heavyweights Nestle SA, the world's largest food company, and
Colgate-Palmolive, the biggest toothpaste producer.
The duo have jointly
launched a tooth-protection chewing gum to make a stab at the local market,
which is currently dominated by Wrigley's with its greater than 60 percent
market share.
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