| NEW YORK, July 9
NEW YORK, July 9 As General Mills Inc
rolls out a new Yoplait Greek yogurt in the United States, it is
also thinking about expanding abroad, its chief executive
officer said on Tuesday.
Yogurt is a roughly $65 billion market worldwide, and the
controller of the Yoplait brand is studying how it might enter
other markets, including China and India, General Mills CEO Ken
Powell told Reuters.
Yogurt is an "adaptable food" that can be easily tailored to
suit local consumer tastes, he said.
Rival Danone recently announced a joint venture
with China Mengniu Dairy Co to develop chilled yogurts
in China, Hong Kong and Macau.
General Mills already has a joint venture with Nestle
that sells breakfast cereal internationally. A
separate venture with Japanese partners operates Haagen-Dazs in
Powell would not say which market was at the top of his list
for yogurt, but General Mills already has a sizeable presence in
China with its Haagen-Dazs ice cream stores. It expects to open
around 70 new ones there this year, which would bring the total
to roughly 250.
"We have lots of dairy expertise, which allows us to think
pretty broadly about other opportunities," Powell added.
In the meantime, the company is focused on rolling out its
new Yoplait Greek in the United States and Liberte Greek in
Yoplait has nearly a 24 percent share of the U.S. yogurt
market, which is worth $7 billion, according to research firm
Euromonitor International. The company is working to boost its
share in Greek yogurt, which accounts for more than 40 percent
of the market.
(Reporting by Martinne Geller in New York; Editing by Lisa Von