Two bars of the Toblerone Swiss chocolate are shown, at front is the new style 150 gram bar showing the reduction in triangular pieces, in the background is the older style 360 gram bar, pictured in London, on Nov. 8, 2016. The makers of Toblerone are stripping images of Switzerland's famed Matterhorn and the Swiss flag from the packaging of the milk-chocolate treat to comply with “Swissness” legislation, largely because some of its production is being outsourced to Slovakia. Mondelez International of Deerfield, Illinois, which owns the Swiss-born brand, said Monday March 6, 2023, it's in the process of adapting the packaging of Toblerone products to conform with Swiss law. (AP Photo/Alastair Grant, File)
The makers of Toblerone are stripping images of Switzerland's famed Matterhorn and the Swiss flag from the packaging of the milk-chocolate treat as they move some production to Slovakia.
Mondelez International of Deerfield, Illinois, which owns the Swiss-born brand, said Monday that it's in the process of adapting the packaging of Toblerone products to conform with strict rules in Switzerland about how products qualify for the coveted “Swissness” moniker — perceived by some as a standard of quality.
“The redesign of the packaging introduces a modernized and streamlined mountain logo that is consistent with the geometric and triangular aesthetic,” Mondelez spokeswoman Livia Kolmitz said in an email.
In June, the company announced plans to outsource production of some Toblerone chocolates later this year to Bratislava, the Slovak capital — where wages and the cost of living are far lower than in wealthy, expensive Switzerland.
The packaging change affects 35- and 50-gram (1.2- to 1.8-ounce) bars that will be made in Slovakia: Larger, 100-gram “tablets” will still be produced in Bern, the Swiss capital, the company says.
A law on “Swissness” of products was adopted in 2017 and aims to protect the cachet of Swiss manufacturing. When it comes to foods, two criteria have to be met: At least four-fifths of the raw materials that go into the product have to come from Switzerland, and the processing that gives a product its “essential characteristics” must be carried out in Switzerland.
The chocolate bar, made of honey and almond nougat, is distinctive for its triangular “peak” shape that evokes a mountain range and matching triangular packaging — sold in scores of countries and duty-free shops around the globe.
Toblerone has already been produced in other countries — notably late into the last century. The treat was invented 115 years ago by Swiss confectioner Theodor Tobler, with the brand name a fusion of the family name and the Italian word “torrone” — nougat.
Mondelez has already run into blowback from its changes to Toblerone in the past: A move years ago to widen the gaps between the chocolate peaks — reducing the weight of the bars but keeping the price the same, known as “shrinkflation” — fanned outrage in Britain, where the change mostly took effect.
Ride share competitors Uber and Lyft both posted their fourth quarter earnings days apart from each other. Both companies have been trying to get back on their feet after taking some pandemic-related hits, but the Omicron variant had other ideas as the year came to a close, with each company taking a hit in ridership in December. Lance Ippolito, head trader at The Future of Wealth explains how Uber and Lyft measured up this earnings period and why Uber may still have an edge over the competition.
The Super Bowl might be over, but people are still buzzing about the players, commercials, halftime show, and more. Google tracks the top searches before and after the game every year, revealing the show-stopping moments of the biggest sporting event of the year. Sadie Thoma, Director of US Creative Partnerships at Google, joined Cheddar's Opening Bell to discuss the top trends this year.
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
Disney reported earnings beat on both top and bottom lines. Earnings per share came in at $1.06 versus Refinitiv estimates of 63 cents. Revenue also exceeded expectations at $21.82 billion dollars versus $20.91 billion expected. Meanwhile, Disney+ added 11.8 million new subscribers this quarter to reach nearly 130 million total. Tuna Amobi, media and entertainment expert at CFRA research, joined Cheddar to gives his take on Disney's earnings blowout.
Almost a decade after facing a parent's worst nightmare, the families of the young students killed in the Sandy Hook School shooting reached a settlement with gun manufacturer Remington, makers of the Bushmaster AR-15 used in the crime. David Pucino, deputy chief counsel, Giffords Law Center to Prevent Gun Violence joined Cheddar News to discuss the families' case and how its strategy brought about the legal settlement. "They built a really great case showing the way that Bushmaster developed its advertising to drive sales using those toxic messages.
Private equity firms are taking a big interest in investing in NBA teams, the sports league showing the highest ROI over the last two decades according to Sportico, Forbes, and PitchBook. Wylie Fernyhough, lead analys for private equity at PitchBook joined Cheddar News to discuss the way firms are looking to get a piece of the action on the court. “There’s a certain amount of rarity, with these," Fernyhough said. "They’re not exactly printing new NBA franchises."
