For as long as its products have been available in the U.S., Oatly has had the same problem: It can’t meet demand. People love them as mild, creamy, Earth-friendly milk substitutes, and they find the company’s ads endearing. (On the front of a New York City bus: “Don’t worry if you don’t like this oatmilk ad, it will be driving away soon.”) In 2018 baristas nationwide ran short of Oatly milk. Even at the time of its IPO, the company was still filling only 70% of orders in its key markets, said Petersson, who’s run the company since 2012. On his LinkedIn About section he wrote, “I aim to wake up each morning knowing that what I am doing is helping to make people’s lives better without taxing the health of the planet.”
As the company adds capacity to its Utah factory and builds a new one in Texas, Petersson will have to navigate increasing competition in the alt-dairy aisle, including from many new oat-based products. And even as more people try alternative proteins, he’ll need to find a way to appeal to consumers who don’t necessarily select food based on concerns about animals or the environment. One way he’s trying to do that: In March, Starbucks Corp. announced it would serve Oatly milk nationwide. A shortage was reported within weeks.
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December 01, 2021 at 05:07PM
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Toni Petersson, Oatly (OTLY) CEO Behind Oat Milk Boom: Bloomberg 50 2021 - Bloomberg
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