Kraft Heinz bets on more flavors for Philadelphia cream cheese as it looks to revive brands
Article excerpt
In this article Philadelphia cream cheese will release three new flavors on Tuesday as part of Kraft Heinz's broader plan to reinvest in its iconic brands and win back shoppers. Previously, the 154-year-old brand released about one or two new flavors such as garden vegetable or pineapple every year. Over the next two years, it plans to launch 10 new varieties, with the goal of "creating some excitement" within the cream cheese category, according to Jerome Drolet, Kraft Heinz's president of taste elevation. Drolet's position is a nod to Kraft Heinz's now-paused split. When the packaged foods giant planned to spin off into two separate companies, one had the temporary name of "Global Taste Elevation," which would house condiments, sauces and Kraft Mac & Cheese. For now, Kraft Heinz is sticking together and trying to stage a comeback by making its legacy brands more relevant. In the period since Kraft Heinz announced the split was paused, the company's shares have fallen 2%. Some investors are pessimistic that its well-known but stalled brands can ever regain shoppers' favor, even with a $700 million investment from Kraft Heinz. Some of that money is pouring into Philadelphia. The company's spending on the cream cheese brand is expected to climb 63% this year compared with 2025, including more backing for its research and development, according to Drolet. And investment in...
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The Mike's Hot Honey flavor will launch in Walmart exclusively until it hits other retailers' shelves in January.
