Hershey Reveals A New Candy After 30 Years
In the world of a student taking online pastry courses, it pays to stay on top of the latest news coming from Hershey’s Corporation. The largest chocolate factory in North America announced in mid-October that it would begin selling the Lancaster, a soft candy that bears the name of Milton Hershey’s first candy company, Lancaster Caramel Co.
After 30 years of Hershey’s kisses, Almond Joys, Whoppers, Mounds and Reese’s peanut butter cups, Hershey’s debuted the new candy, describing it as soft and meaty.
Steven Schiller, Hershey’s senior vice president for sweets and refreshment, said to reporters, “You can really sink your teeth into it, but it is not very sticky on your teeth.”
The Lancaster will come in three distinct flavors: caramel, vanilla and caramel, and vanilla and raspberry.
Hershey’s debut of the Lancaster is a part of an overall strategy that is honing in on the emerging Chinese market. Having solidified its reputation in the U.S., Hershey’s Co. is determined to make candy that the Chinese love too.
“China and the U.S. are major focus markets for the company,” Schiller said.
The extra attention to Asian markets has paid off for the 140-year-old candy company. New products overseas have helped create an 18 percent increase in net income last quarter.
The company’s use of caramel as the main ingredient in its new product was not determined by chance. There is a growing demand not only in Asia but around the world for what Hershey’s is calling “comforting richness” – candy made from milk or caramel. The Chinese are really sinking their teeth into the industry, which is valued at $1.5 billion dollars.
In the wake of the rebirth of caramel, Hershey’s is set to grow throughout 2014.
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