US chocolate manufacturer Hershey has unveiled a new Asia Innovation Center in Shanghai, China, as part of its strategy to drive global growth and innovation.
The new center is located at the Jinqiao Golden Bridge Research Park in the Pudong District. It will allow the company to quickly develop, test and launch new products customized to the tastes of consumers in China and across the Asia region.
Hershey noted that the R&D centre will serve as global hub for innovation and technology and its location in Shanghai demonstrates its focus on China as a key growth market. The center provides access to the Asia market while facilitating close collaboration with local and regional China sales, marketing and operations personnel.
Hershey Company senior vice president and chief growth and marketing officer Michael Wege said that the new Innovation Center in Shanghai supports the company's aggressive growth plans in Asia and reflects its global approach to business.
"It will enable us to translate our insights and knowledge of consumer tastes and preferences into relevant products. With industry-leading innovation capabilities based in China, we will develop products that expand our portfolio across the region and around the world," Wege added.
The 22,000ft2 facility features research and development (R&D) laboratories, a pilot plant for the chocolate, sweets and refreshment categories and a development centre for emerging product offerings. It will also house a sensory area, creativity center, packaging development section and research laboratory.
The center includes office space for up to 32 engineers and innovation staff and will initially employ 12 scientists and product developers. The team will be led by Qingbin Yuan, Hershey's Director of Asia Research & Development.
Hershey plans to primarily hire local talent from the region to help gain deeper insights into the local consumer and establish strong partnerships with local universities and vendors. Over time, Hershey will supplement technical resources that will allow the R&D facility to become a broader innovation hub with a focus on building leading brands in China, across Asia and potentially worldwide. To achieve this, the company plans to focus on consumer research and testing.
According to Hershey, China is fastest growth market and the company has moved from number seven to number three in chocolate share in just five years with overall chocolate share more than quadrupling by 2012.
