By Christopher Adams – NZ Herald
Fonterra chief executive Theo Spierings says losing Chinese market share to European dairy competitors is a concern for New Zealand.
Addressing the China Business Summit in Auckland this morning, he outlined the dairy giant’s five-year plan in the world’s second-biggest economy.
Spierings said Fonterra was aiming to grow its business in China from around $5 billion in 2014 to $10 billion over the next five years.
The company would focus on expanding its footprint in smaller, tier three and four Chinese cities, as well as growing consumer brands sales through e-commerce channels.
“One big change that I expect … is the growth of tier three and four cities,” he said. “It’s going to be a different ball game – completely different.”
Asked about Chinese dairy players setting up manufacturing facilities in New Zealand – more