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New York
CNN Business
—
Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.”
“For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small brands, niche brands.”
Recently, “we stopped and said, let’s go back” to basics, Patricio said. “Let’s be proud of the brands we have. Because they’re incredible.”
More than half of Kraft Heinz’s business comes from just eight brands — the aforementioned three, plus Kraft Mac and Cheese, Philadelphia Cream Cheese, Heinz, Lunchables and Ore-Ida. They may not seem glamorous, but they’re the very brands the company is banking on in its years-long effort to turn around the world’s fifth-largest food and beverage…
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