(MENAFN) Nestle's CEO Mark Schneider mentioned on Friday that there has been a reluctance among consumers in the Middle East and Asia towards Western brands due to what he described as "consumer hesitancy" following the events that unfolded after the October 7 attack by Hamas on Israel and Israel's subsequent military actions in Gaza. He clarified that, as of his knowledge, there hasn't been anything specifically targeted at Nestle in this regard.
“It's more of a global trend overall and local companies have benefited from that. And that trend, I think for the moment continues. I don't see it particularly accelerating or decelerating, and then we'll need to see where things develop in 24,” he stated.
The continuous offensive by Israel on Gaza has sparked worldwide boycott movements against numerous Israeli, US, and European companies. These include renowned US restaurant chains such as McDonald's, Pizza Hut, KFC, and the coffee giant Starbucks. Additionally, European-based companies like Unilever and Nestle have also faced calls for boycotts.
Israel launched a sustained assault on the Gaza Strip following a cross-border attack by Palestinian resistance group Haas on October 7. The subsequent Israeli military campaign has resulted in the loss of over 29,500 lives and inflicted widespread destruction, leading to shortages of essential supplies.
The conflict has forced 85 percent of Gaza's population into internal displacement, exacerbating shortages of food, clean water, and medicine. Furthermore, 60 percent of the enclave's infrastructure has been either damaged or destroyed, as reported by the United Nations.
In a historic development, Israel is facing allegations of genocide at the International Court of Justice, marking the first instance since its establishment in 1948. The interim ruling issued in January has directed Tel Aviv to halt genocidal actions and ensure the delivery of humanitarian aid to civilians in Gaza.
MENAFN25022024000045015839ID1107896074
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.