Chobani ANZ chief executive officer Scott Hadley.
“We’re in those major retailers. Where I think the opportunity is is to broaden our availability and into more independent retail,into the corner store,petrol and convenience,to be available everywhere,” he said.
“We’re starting to develop a new aspiration that there’s a Chobani product in every fridge everywhere,every day.”
Some of the way forward has been paved for Hadley,who joined the business in April from ASX-listed TasFoods and beverages giant Asahi before that. He gives credit to his predecessor Lyn Radford for leaving the business in good shape:the brand commands strong market share,espouses social responsibility,and is well liked by consumers for being tasty and healthy.
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But even Chobani is not immune to macroeconomic factors affecting food producers in Australia. As shoppers rein in their spending,budget more carefully and trade down to more affordable products,food manufacturers across the board are grappling with mounting business and input costs,encompassing electricity and energy,annual wage increases and heftier utility bills.
In 2023,the yoghurt maker booked profits of $1 million,up from a loss of nearly $5.7 million the year before,driven by an 18.9 per cent bump in sales to $246.1 million. This revenue figure has been steadily climbing over the years (it was $189 million in 2020 and $191 million in 2021) but profits ($787,000 in 2020 and $1.8 million in 2021) have fluctuated. In 2023,a range of expenses also climbed,but foreign exchange rates and finance income improved.
Asdairy farmers exit the industry,the national milk pool dwindles and with farmgate prices subject to volatility,Hadley is keen to maximise productivity and,put simply,sell more.