Skip to main content

On This Day in 2015: Italy's Chocolate King Michele Ferrero Died


Michele Ferrero (89), Italy’s chocolate king, died. He took over the family’s hazelnut-chocolate business after his father died in 1949 and soon added vegetable oil to make it spreadable. In 1964 he invented the name Nutella and in 1983 took it to America.

Ferrero Group products also include Kinder, Ferrero Rocher and Tic-Tac. Michele's father Pietro got his start during World War II in northern Italy, where he set up a lab to supply his wife's pastry shop. Faced with rationed cocoa, he used the region's plentiful hazelnuts to create a spread that would eventually become Nutella.

In 1949 Pietro died, briefly leaving the company in his brother's hands before son Michele took over. Starting in 1957, Michele aggressively targeted overseas markets while developing new brands and products. The following decades saw Ferrero grow across Europe, South America, Asia, and Australia, while he focused on new products such as the Ferrero Rocher hazelnut chocolates. 

Popular posts from this blog

Factors of Production and their Rewards

Type Definition Reward Land Labour Capital Enterprise All natural resources The physical and mental works of people All man made tools and machines All managers and organizers Rent Salary/Wage Interest Profit/Loss

Factors Affecting Geographical Mobility of Labour

Geographical Mobility of Labour refers to the movement of workers from one place to another place.  It depends upon; ·cost of housing ·cost of relocation ·availability of social amenities ·family ties etc

Common Barriers to Occupational Mobility of Labour

Barriers to Occupational Mobility of Labour ·Lack of natural abilities ·Lack of qualification ·Cost and length of training ·Discrimination ·Ignorance of available job opportunities
Ways to increase Occupational Mobility of Labour ·By providing training and retraining ·By organizing job centers