 |
Michele FerreroOwner of the Ferrero company.
Date of Birth: 26.04.1925
Country:  Italy |
Content:
- The Sweet Legacy of Michele Ferrero
- The Birth of Nutella
- Expanding the Ferrero Empire
- The Invention of Kinder Chocolate Eggs
- Innovation in a Changing Market
- Business Success and Personal Achievements
- Legacy and Family
The Sweet Legacy of Michele Ferrero
Early Years and Family BusinessMichele Eugenio Ferrero was born on April 26, 1925, in Dogliani, Italy, to Pietro Ferrero, the founder of the Ferrero company. Michele attended Catholic school but did not pursue a formal business degree. He joined the family business in 1949.
The Birth of Nutella
During World War II, the Ferrero family substituted cocoa beans with local hazelnuts to create a sweet spread. In 1946, Pietro Ferrero perfected the recipe for "gianduia," a chocolate-hazelnut paste. Michele saw the potential for this spread and introduced it to the broader market as "Nutella" in the 1950s.
Expanding the Ferrero Empire
After becoming CEO of Ferrero in 1957, Michele embarked on a mission to expand the company's product portfolio. He targeted Italian housewives, known as the "Valeria" archetype, to understand their preferences. This led to the creation of chocolate candies like "Mon Cheri" with a cherry liqueur filling for Italy and a hazelnut filling for the American market.
The Invention of Kinder Chocolate Eggs
As a devout Catholic, Michele cherished Easter, when chocolate eggs were a traditional gift. Inspired by this tradition, he created Kinder Eggs, chocolate eggs containing small toys, in 1972. The eggs became an instant hit, and the toys within became highly collectible.
Innovation in a Changing Market
Ferrero developed "Kinder Joy" eggs for warmer climates and introduced "Tic Tac" breath mints in 1969 to appeal to American women. Today, Tic Tacs are available in a wide range of flavors beyond the original mint.
Business Success and Personal Achievements
Under Michele's leadership, Ferrero became the second-largest confectionery company in Europe. Forbes ranked Michele as the richest man in Italy in 2008, with a net worth of $26 billion. Ferrero SpA includes brands such as Nutella, Mon Chéri, Kinder Chocolate, Ferrero Rocher, Tic Tacs, and Kinder Eggs.
Legacy and Family
Michele had two sons, Giovanni and Pietro, who became executives at Ferrero. Pietro passed away tragically in 2011, and Giovanni became the sole CEO. Michele Ferrero passed away on February 14, 2015, at the age of 90. He left behind a legacy of innovation, philanthropy, and a commitment to his faith.
