Cadbury. You can't buy heritage.
Cadbury practically invented British Easter, and we spend £400 million on it every year. But Cadbury isn't really Cadbury any more, and when you hollow out an institution, someone moves in.
THE GIST ON CADBURY: "A Glass and a Half Empty"
What happened to Cadbury?
Cadbury practically invented British Easter. Every year we spend £400 million celebrating it. The problem is Cadbury isn't really Cadbury any more, and when you hollow out a national institution, someone moves in.
Cadbury was once the most trusted brand in Britain. The Creme Egg, Dairy Milk, Mini Eggs: it owned Easter. Then in 2010 the American conglomerate Mondelez bought it for £11.5 billion and immediately did what an American conglomerate does best: optimise. It changed the Creme Egg recipe, moved production overseas and cut costs.
Did people notice?
Two years ago Cadbury lost its royal warrant. When you strip out the soul of a brand, we have a sixth sense about it. The chocolate tastes different, the packaging feels cheaper, and the thing you grew up with starts to feel like a copy of itself.
Who moved in?
Into that gap walked a generation of new makers, with people queuing round the street to pay £49 for an Easter egg. That fills a gap that used to cost ten times less.
What did Mondelez miss?
You can't buy heritage. You can only inherit it or destroy it. They inherited 200 years of British trust, and I think we all know what happened. The market doesn't wait. It just moves on, and it never comes back.
So where's your Easter egg from this year? Happy Easter.
Is today's Cadbury as good as it was?
Your take. One tap, then see how everyone else voted.
Quick answers
Who owns Cadbury?
Mondelez, the American conglomerate, which bought it in 2010 for £11.5 billion.
What changed after the takeover?
Huw says the Creme Egg recipe changed, production moved overseas and costs were cut.
Who fills the gap?
New makers, with people paying £49 for an Easter egg.
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