Confectionary maker Ferrero announced the opening of the Ferrero Innovation Centre in Singapore. This will be the company’s first Asian innovation centre located in Singapore, which the company considers to be one of the world’s leading innovation ecosystems.
The new centre is designed to strengthen Ferrero’s position as a global innovation leader and will house several strategic innovation functions in the areas of health and nutrition, new raw materials and product research and development, consumer insight and foresight activities.
At Ferrero’s innovation centre, which has been supported by the Singapore Economic Development Board (EDB), a multidisciplinary team of experts in food science, biotechnology, nutrition, consumer insights, material science and design will engage with the vibrant Singapore ecosystem to foster the innovation process.
In remarks made at the opening, Ferrero Chief Executive Officer, Giovanni Ferrero spoke about the company’s decision to choose Singapore for their innovation centre.
“Innovation has always been a core value for Ferrero. Our products are the result of a strong passion for quality and research. The Singapore innovation centre will support Ferrero in its continuous pursuit of cutting-edge technology solutions to offer our consumers the best quality products that provide always new taste dimensions,” he noted.
Chairman of the Singapore Economic Development Board, Dr Beh Swan Gin welcomed the move.
“Ferrero’s decision to establish its first global Innovation Centre in Asia, in Singapore, reflects the significance of the rapidly expanding consumer markets in Asia and underscores Singapore’s position as the region’s leading food and nutrition hub. We look forward to having Ferrero work with partners in Singapore to develop unique product offerings,” said Dr Beh.
The decision to place the Ferrero Innovation Centre in Singapore was motivated by its strategic location in Asia and its prominent role within the global scientific research community, which includes among others, the Agency for Science, Technology and Research (A*STAR) and relevant universities.
Singapore represents a dynamic and innovative environment where scientific talent and resources combine with diverse Asian consumer demographics. This offers an ideal platform for experimenting with novel technologies and raw materials with the aim to develop and test new products in a market of strategic importance for Ferrero.
Ferrero started the business in a little town of Alba in Piedmont, Italy, in 1946. Today, with a consolidated turnover of over 10 billion euros, Ferrero is amongst the market leaders in the confectionery sector and the third worldwide Group in the chocolate confectionery market.
Nutella, Ferrero Rocher, Raffaello, Tic Tac and the Kinder line (Kinder Surprise, Kinder Joy, Kinder Bueno, Kinder Chocolate, Kinder Milk Slice, Kinder Pingui, Kinder Delice) are some of the Ferrero products best known around the world.