The snacking giant is prioritizing the $3.2 billion chip brand and other items within its portfolio through innovation, and this offering will be available on stores in October.
In-Depth Overview:
1.] Pringles Mingles, a puffier version of the chip that comes in a bag, is being introduced by Kellanova. Mingles are said to have a light, airy interior and a crispy outside. The puffs are shaped like bow ties, taking inspiration from Mr. P, the brand’s moustached mascot.
2.] Three types of the snack will be offered: Dill Pickle & Ranch, Sharp White Cheddar & Ranch, and Cheddar & Sour Cream. October will see the release of Pringles Mingles, according to Kellanova.
3.] After splitting from WK Kellogg in October of last year, Kellanova is concentrating on reinventing its key brands in the snacking sector. Of Kellanova’s snack portfolio, Pringles is by far the largest product, with projected sales of approximately $3.2 billion in 2023.
Deep Dive:
Pringles is a well-known snack because of its distinctively shaped chips and tall, cylindrical cans. For the first time in fifteen years, Pringles Mingles will be sold in bags. It also demonstrates the brand’s potential that Kellanova sees beyond its typical chip offerings.
Mauricio Jenkins, the U.S. marketing lead for Pringles, said in a statement that “this puffy, airy snack not only gives fans a new way to experience Pringles, but its easy-to-share packaging creates a new way to enjoy their favorite snack with friends and family, whether munching at home for movie night, at a party, or on-the-go.”
CEO Steve Cahillane told investors at a Wall Street conference that prior to Kellanova spinning off its cereal unit last fall, the new snacking company would base its strategy around its biggest brands, including Pringles. Despite recent expansion, he claimed the brand has not yet realized its full potential on a worldwide scale. Sales of Pringles have more than doubled under Kellanova and its predecessor Kellogg since the company was purchased for $2.7 billion in 2012.
During the company’s last week earnings call, Cahillane mentioned Pringles as the largest brand. According to him, increasing the availability of Pringles products in “emerging markets” will support business expansion throughout the remainder of the year.
Kellanova has prioritized innovation in recent years for Cheez-It, one of its other well-known trademarks. It has given the orange cracker access to a wide range of different tastes and styles. These include the 2022 release of Cheez-It Puff’d, a snack that tastes like Pringles Mingles, and Snap’d, a crispy, thin version. The brand introduced Cheez-It Extra Crunchy in January with the goal of making every bite sound more crunchy.
The company that makes Pop-Tarts and Eggo waffles decided to concentrate just on snacks because it wanted to increase its market position in the multi-billion dollar sector, where it was behind industry giants like Nestlé, PepsiCo, Mondelēz International, and General Mills.