Nestle China Growth May Double After Evading Scandal
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Nestle SA, the world’s largest food company, says sales growth in China may double to 20 percent this year as it takes market share from rivals affected by last year’s tainted-milk scandal.
“We have gained market share, all our businesses, our branding is stronger and we had greater market recognition,” Patrice Bula, chairman and chief executive officer of Nestle (China) Ltd., said in an interview in Shanghai on Sept. 5. “In the milk crisis, we were not part of it, we’re not directly affected by it because all our products were safe.”