Good morning. First, I would like to invite our Chairman up for symbolic thing here now because this is a very important day for our company. Thank you, Ole Erik. Excellent to see all of you here today. This story started a long time ago.
MUV was founded in 1964 and by pioneers that actually started with trout, grew trout in small earth ponds, found out that the trout grown in earth ponds tasted mud and said, let's go for the real fish, let's go for the salmon. These people had vision. They were already in the beginning thinking around quality of the product. They were testing their product in actually one of the founders' hair was Johan Leerum. He had a factory producing jam.
And in this factory, he had a lab, and that's where he tested the quality of the salmon. Today marks a great day for our company. We will and we are launching a global brand, and we have spent about 2 years on the preparations for this moment. At the same time, the discussion have been around, can you launch a global brand without not changing the name of the company? And we have decided to go all in.
And the reason for that is that the whole idea here is to use the value chain throughout from the start, and I will explain you that later on, from the start with the eggs until the end at the perfect salmon on the consumer's dish. So the integrated value chain, what we have built over time here, is extremely important. Then again, focusing on quality and focusing on differentiation. We have a lot of salmon in our cages, and that means that we have a lot of exceptionally good salmon, and we have a lot of normal salmon, and we have maybe some salmon that are not perfect. It's with salmon like with anybody else.
Today, I don't feel too good either, because my back is hurting, but I will come over it. So I think the future here, the future of salmon is moving. You're going to if you learn only one thing today, bring that name with you, move it. And you can pronounce it just the way you want. In Norway, we say IKEA, you say IKEA.
So this name will work. And it's short. It's also a good reason for choosing it. So what's the brand objectives? Well, this is about thinking ahead.
We know you're not building a brand overnight. We can't be on the podium next quarter and say the brand is fantastic. This is going to take time. The most successful brands are good in about 5 to 7 years after launch. That is a fact.
We're going to invest heavily into this, and we are not doing it for fun, even though we think it's going to be fun and engaging to be part of this story. The investment is €35,000,000 that's over the 1st 2 years. Our target 2025 is selling movie salmon at €1,000,000,000 Our target for profit is €100,000,000 above non branded fish. So we do this to make sure both the consumer and the shareholder over the long term will be more happy. And we really feel that we have something going in this case.
Then I will take you into the value chain because we have we have built this over time. You can say that movie Eggs started already back there in 1964, but we have really invented it later. And I will go through this step by step, so you understand the meaning of the value chain towards the brand later on. But just in general, the first line of pictures here take between 30 36 months. So long history from ag to the final product.
The last line, well, the quicker it goes, the better it is. There's a saying out there that nothing is in such a hurry as a dead salmon. And I think that goes a lot of truth into that. So logistics, product development, getting this on people's plate as quick as possible to preserve quality is key. In terms of just to explain you a little bit about what we do in Marine Harvest, and this is maybe not very known to people, but we have our movie breeding network.
Actually, we call it that. We have called it movie breeding network all along. And this breeding network controls the genetics of the fish, the families in all areas where we operate. And if you take a look at this and what's so spectacular with salmon is that we have control over 450,000,000 eggs every season. So 450,000,000 eggs to select from.
And maybe only that one egg is going to be that salmon that you eat. So what does that really mean? That means how many female fish do we need to get 450,000,000 eggs? Well, the mathematic is pretty simple. It's around 15,000 eggs per female, so you need 30,000 fish to create this.
And then you can start to select from these 450,000,000 eggs to create the perfect salmon for the consumer. Think about the strength in that. Think about and what's even better is how technology has developed in terms of giving us new tools using the same basically science into animal breeding, but using new tools as knowing the DNA of salmon, being able to pinpoint the specific fish, male fish to the specific female to getting just that product. And I'll tell you a little bit more about this in terms of how we work. Well, we work with something called heritability.
What you are as a person is a sum of how the environment has impacted you and the genes you have inherited from your ancestors. This is the same for salmon. No surprise there. So we work on this one here. How much of this trait is explained by the genes?
And if h is 0, how much is explained by the environment? If everything is explained by the environment, not much we can do because remember what we want to do. We want to create the perfect salmon for you as a consumer, and we start back here. So let's take a look at that. In terms of good news, I've taken just 2 traits which we use in our salmon breeding program, growth and color of the fish.
And just so you know, if you have an age value of 0.5, it's recognized to be fantastic. It's really good. Growth at 0.35 is also a highly acceptable value to breed from. Actually use the genes to select the fish going forward. The great news here is that we can use breeding to select specific fish to make sure we get perfect quality of salmon.
And that is hard to copy. It is not easy to copy what we are doing with this part of the value chain. In terms of then to go down this route and take a look at what else impacts salmon and the way when we want to produce the perfect salmon for the consumer. Well, feed is certainly one of them. It's not true what you read in the paper that you are what you eat, but you can impact the quality of the salmon you eat with what's in their food.
We have built over the last few years, since 2000 and we decided in 2013, 2014 to go into this business on the back of knowing that we can actually use feed as a tool to create the perfect tunnel. We have now 2 factories. We can supply feed to all our operations in Europe. The factory that's coming on in Scotland will produce feed for the small fish, will produce special feed for organic salmon, which is something we do, will produce the movie recipe of feed. Now you start talking.
Okay, we can use the breed, we can use the feet. And in this feed, well, we will have our own recipe. I will not reveal that one. And that can be different for different market as well. Obviously, if we create movie salmon with a movie taste for Asia, it doesn't necessarily need to be the same as a movie salmon specified for the French or the English market.
But something that I think will you will see in all of our fish, high in omega-three, specific in regards to vitamins and natural color, certified and proactive food safety programs. Marine Harvest is known for its sustainability. We were the first company to clean the oils. All North Atlantic fish oils that goes into our fish feed are cleaned, cleaned for PCBs and dioxins. It's not because we need to do it, but because we can do it.
And this makes our salmon even healthier. So then we have breed, feed, covered. What's the next step in the value chain to make it a perfect salmon? Let's go on and take a look at our farming network. We do farming today in all countries, almost where you can farm in a traditional way, with the exception of maybe Tasmania, a little bit in New Zealand and a little bit in northern part of Russia.
But we are now in Chile and Canada West, East, Norway, Scotland Island, Faroe Islands with really competent farmers in most regions. So we are there that we can produce your moving fish at the farm close to market. That's key as well. We then look at what are we going to do, and we are doing this as we speak. We have selected specific farms for movie fish.
And this is the way to go about it. So special breed, special feed, special farms. And these farmers out there, they are taking care of the most valuable fish that Marine Harvest produces. And I would like to say thank you to all the farmers out there. Thank you to the people that is caring for our fish every single day.
They're not necessarily in a hotel in Edinburgh or in a great dinner at the castle, but they are out there caring for our fish every single day. And that's a job that I appreciate a lot. I think this will make their world even more interesting, to be part of producing a brand that you can find in the store and area. Today, Marine Harvest is mostly producing private label, and you can go into stores and find our fish. It's about time that both you and us can go into the store and our farmers can go into the stores and find our product on a global scale, never been done before.
It's not going to be easy, but if somebody is going to do it, it's going to be us. Then we have bred, fed and farmed the fish. And here comes our processing and sales network. I think if we go back to history and look at our pioneers, They were highly inventive in farming and feeding, and they were also out there branding. They used a green gill clip on the salmon.
They didn't gut it. They sold it with the guts in, but the green clip was there. So they were far out there on branding. But they were not quite as sophisticated as we are, and I think some credit to our processing people on that in terms of making this into a convenient product. We have, over the last 8, 10 years, changed this division in Marine Harvest completely.
We have built organic setups with processing plants that can make delicious fish very close to the consumer in all markets. I think we are and we're proud to be a Norwegian company, but I think we are the only Norwegian company with factories in Japan. And we just opened one in China. And we are able to supply today, we are selling to 80 different markets all over, and we can grow this going forward. U.
S. Over the last couple of years has grown, and they have grown with marine harvest. We have opened new factories. We have introduced new products into the North American market, And it's great to see that it's finally growing again. This year, we're going to surpass, I think, 450,000 tonne of salmon into the U.
S. It's been steady for many years now around 380,000 tonne. So it's growing. And think about when we come into the American market with also a brand, I think this market is really ready for a salmon that is something more than a salmon. In terms of processing and sales, 24 countries is where we operate.
This is going to be worked around to be even more efficient. It's about introducing new technology. Automation is coming every single day. But still, we need people to take care of the end quality of the products. We are known to have high level in regards to food safety and traceability.
You can trace all of this. This is just a demand and I think a requirement that anybody should be able to deliver, that you are able to trace the portion you eat back to the brew stock that actually were responsible for that fish. In terms of market development, we've gradually built our marketing organization. We have changed the way we are operating. If you go back to 2010, Marine Harvest sold mostly to importers or processors abroad.
Today, that has changed completely. We are with all the biggest retailers. Now it is to take the next step. We spent the last 2 years to build a brand organization and a brand concept that you will learn a lot more about later today, but we are getting ready to go there. Fantastic product.
I think just the foundation of salmon with its unique color, if there is one product in the world that you can brand, it is salmon. I think it's and I know and it has highly unique capabilities also in terms of health and so forth. And if you look at the drivers behind the movie salmon, when we do consumer research, what is the importance for the consumer? Well, 1, it's taste 2, it's convenience and 3, it's the health aspect. We can build all this into the final product.
So it's for me, it's extremely interesting to be allowed to be part of this, to use the value chain to satisfy the consumer at the end. I think maybe we're not creating history today, but we are not far from it. That's for sure. I will sum up and then you will listen to experts in this field going forward. In terms of our main target, well, obviously, to increase value for our consumer, but also for our shareholders, I think it makes sense to change the company name to be the same as the brand.
And at least for us, it makes it a whole lot easier to write e mails instead of having marineharvest.com now, you can have movvi.com as a great advantage for me personally at least. The long term target here is specific and will has to be delivered on more than EUR 1,000,000,000 of sales in this branded movie category and more than EUR 100,000,000 in extra profit above non branded fish. I think this will increase focus on quality throughout the organization of Marine Harvest. We've been through the value chain and its responsibility. We've built in house branding competence, and we're going to continue to build in house branding competence in the years to come.
And finally, we are able to start communicating with the consumers. That is a strong point in itself, to get this story out there beyond only the few that knows the industry. I think based on what I've said, it's not easy to copy something that is started in 1964. It has the genetic expression it has, has the feed composition it has, has the farming size it has, has the processing specification it has. This product is not going to be easy to cope with.
And I think we can through our people and you will hear from the people that is really onto the details here, this can be solved in a fantastic way. So with that, I will say thank you and introduce Ulla Brottwal. Ulla Brottwal is our COO in sales. He has been with Marine Harvest now since 2011 and really changed the sales organization of Marine Harvest. And I think the last event adventure he started on now with going into branded, we've been working on it with for a couple of years, is maybe the most exciting part of what he has done so far.
And I really look forward to hear your presentation. We'll also welcome to the stage and don't fall because it's a high step here. And if you have a bad back, not good. Thank you.
Thank you very much, Alfaerger. My back feels very good, so I'm safe. As you rightfully say, this is really an exciting journey to start on, and that's really what this is. It's the start of a new journey for Marine Harvest, and it's the start of a new journey for us in sales and marketing. What I want to speak about today is really the category opportunity, and I think it's important to underline that what we are doing today is an add on to what we are already doing.
We are not going to replace all our private label business and all our existing business with only branded business. We realize that the category we are in has to be a combination of the 2. But through all the research that we have done over the last year and a half, two years, we have found that there is a missing part in the category. The category today is dominated by private label, and to a very low degree, you have people proactively going out communicating about the category. So consumers are not met with a proactive communication in the category.
And as an industry, we are much more reactive than proactive when it comes to communication. And in that, we see that consumers are not being given the information and are not being fulfilled when it comes to the needs they have when it in eating salmon. And this is the category opportunity as we see it, and we have seen it for quite a long time. And I want to explain to you now how this fits in our overall commercial strategy and why we think the time is ready now for us going into branded products. This is our commercial strategy and has been pretty much the same strategy over the last 8, 9 years.
So what is it really that we want to do in sales and marketing in Marine Harvest? Well, we try to achieve a price or a margin above our competitors in the market. That's really our contribution to the company and the way we should build value for our shareholders and for the company as such. And we see 2 different routes to that, which is not mutually exclusive, but which is depending on each others in the category. 1 is to establish strategic partnerships with our key retailers based on what we say is Marine Harvest unique capabilities.
So it's really to find the retailers and to approach them in their private label business, offering them our capabilities to build value for their end customers and creating a win win situation for the retailer and for us as a company. So enabling the retailers to meet consumer demands in a better way by utilizing our capabilities combined with their capabilities and working together long term. That has been a success recipe for Marine Harvest in many markets, and we are still going to continue to develop those relationships with key retailers. But what we have done very much less of over the last few years is utilizing those capabilities and establishing a relationship directly with the consumers. And that's the difference between the first part of our strategy and the second part of our strategy.
The second part is really about establishing a relationship with consumers, building a brand based on our unique capabilities and thereby offering consumers a value which they haven't received before and enabling us to go into the market achieving a higher price and a better margin than what we have done before. So the combination of the 2 is what's going to be the key going forward as well. And as I said, we have today very strong relationship with many retailers all around the world, and we want to continue to build on those relationships. And we want to offer the brand as an add on to the category of those retailers and where the brand will fill a role in the category, which private label is not able to do with a much more proactive communication with all with answering consumers' questions in a way which private label cannot do. We can do it because we are who we are.
We are an integrated company with full control all the way back to the breed, and that enables us to communicate and have a dialogue with consumers in a different way from what you see in private label. And combining the 2 is what will grow the total category, and that's why we strongly believe that from a retailer's point of view, they should also welcome this new brand into their categories. Alfelder talked about this earlier, and this is our global value added processing sales and marketing network. And we have been working on this network for quite a few years, and it's very different from what it was 8, 9 years ago. The biggest capacity we do have in Europe, Our European processing footprint has been quite radically changed over the last years.
As you know, we acquired Molpel back in 2012. That gave us a strong footprint covering the Central Eastern European part of the markets. We also restructured part of our processing activities in Western Europe, especially in Belgium and France. And at the same time, we built additional capacity here in the U. K, and we expanded our fresh processing network throughout Europe.
And today, I would say that our processing and sales and marketing network in Europe is at a very high level. We have invested into our facilities. We have highly competent people, and we are an efficient producer of value added products throughout Europe. And this forms a good basis to take on the next part of our journey. At the same time, as we have restructured and expanded our processing footprint in Europe, we have been adding capacity in Asia and in the U.
S. Market. And as Alfrego already talked about, the U. S. Market is currently experiencing a very strong growth in value added fresh products throughout the U.
S. We have been in the driving seat from the very beginning of that by expanding our capacity in Miami, Dallas and recently in Vancouver, where we are now able to cover the full geography of the U. S. Market with fresh value added products ready to cook to the American consumers. And they are embracing these new products today, and we see a very strong growth in that part of the market.
The Asian market is also a very strong a very a market which is growing very strongly. And we have been in Asia for decades. We were among the first to establish ourselves with our own representation in Asia. China, I think we were the very first, and we have been in Japan for a very long time. We are in Taiwan, in Korea, in Vietnam.
And recently, we, as you might know, opened a new facility in Shanghai, which enables us to serve fresh prepacked products to the Chinese consumers as well. So all in all, our processing, sales and marketing network in Europe is today truly global with the capacity to deliver fresh products, frozen products and smoked marinated products to all continents in a very efficient way. And this is, of course, a very important part of the foundation for embarking on a branded strategy. If you then look to the growth in sales and marketing over the last 8 years. You can see that our turnover has grown rapidly.
Of course, part of that is a price increase, as you know, but it's also us going deeper into value added products and then having that contributing to the top line growth. But you can also see that the operational EBIT from sales and marketing has grown from below €40,000,000 in 2011 to last year 137 1,000,000 So at the same time, as we have been growing our value added capacity, we have become more efficient and a stronger player in the downstream part of the market. And this has been very important to us to build this capacity primarily based on private label business and to make sure that we are an efficient and solid partner for our key retailers. And with that, we believe that we have a fundament and a basis to take the next step and to offer a new product and a new concept to consumers. Again, the idea with the brand, as Alf Helge very well explained earlier, is to turn our integrated value chain into shareholders' value or into consumers' value.
And over time, we have developed our value added capabilities. We have also developed our FEED capabilities, and we are now in a position where we can utilize all those capabilities in creating a new concept, new products, new ways of communicating with consumers. And this, we believe, will enable us to increase value adding with branded seafood in retail. The process that we have been going through over the last year and a half to 2 years is a process where we have really looked into the markets for salmon and really tried to understand both from a consumer's point of view and from a retailer's point of view what are the key dynamics in the markets that we operate and where is the room for a brand in this market. And that's what makes us very enthusiastic about it.
It is the clear message we get from consumers that, yes, we want someone to come out there and talk about salmon, to tell the story about salmon and really to engage with us and communicate with us and listen to us and hear what we need and meet those needs in a different way. There are unmet needs out there, and salmon is a high involvement food product. It's something that people care about when they eat it. It's not just another piece of protein. It's a protein that people have a relationship with, which they associate with very many positive values, but which they also have a few questions to.
And they are really missing someone to come out and talk about both the positive sides of this product and the worries that they might have. And this is where we really think that we can make a difference. And what I said is that there are some key consumer trends supporting the movie brand. And when I talk about these trends, if you talk about food consumers and the target group for the movie brand going forward, it's very much about the Millennials. And most of you know the definition of Millennials.
These are people from the early '20s to the late '30s. So these are the people who are about to establish themselves with families, who are more and more starting to worry about what to bring to the dinner plate today. They are different from generations before them. And when I look to this audience, I must say that there is a few millennials, but I think the average participant here is not a Millennial, I'm sorry to say. But this generation have a very different approach to communication and information than what we had and we have.
They are the 1st generation that is have been born with Internet. So their whole life has been lived with Internet. They use social media in a very different way, and they communicate on social media with each other, with their friends, with their families, but also they use social media when they discuss food, when they discuss what to have for dinner and when they search for recipes for dishes. They communicate in a way which is interactive. So they are expecting their food suppliers, their brands to engage in that conversation.
And they are looking for transparency in a way which older generations didn't. Before, it was enough to put a TV commercial on the TV and give your story, and consumers would believe that story or not. But if they believe that story, they wouldn't ask too many questions. They wouldn't go alternative sources to seek information about your product. Today, it's very different.
They go to alternative sources. They look for information other places than where you would think they would look for information, and they will scrutinize your brand. So you have to be transparent. You have to be open. And that's where we this need for transparency, this need for sustainability, they will ask questions about sustainability.
They will need a brand that meets their needs for a sustainable and responsible supplier. And they will seek this information. If you're not open about it, if you're not transparent about it, you will fail. And we believe with our setup, the way that we have the way that we operate as a company is in transparency. We are open about what we do, and we have been very much focusing on being open in the communication with all stakeholders, not only the consumers.
And actually today, consumers are probably the group, the stakeholders that we are communicating the least with. So we are actually having this on board already. It's not that we actually have to change the culture of the company or the whole company to meet this need for transparency. We do have it already, and this is something that we can utilize when launching the brand. So in essence, we believe that our capabilities in Marine Harvest are meeting the key consumer trends in a very good way and that we can communicate actively with consumers in ways which others can't.
So our branding strategy is really based on that. It is really based on us taking a proactive role, going out there, communicating with consumers and launching products that are meeting consumer needs in a different way than what is being met today. We want to create a unique salmon, a salmon which has superior health benefits. We know already today that health is a very important aspect when consumers are buying salmon. They associate salmon with a healthy product, and they have opinions about salmon when it comes to the healthiness of it.
We believe that what we can do through breeding, through feed and through the farming operations that we have, we can create a product which is unique in its health benefits. And we have already started to feed on this fish in the selected farms, and we are ready to bring a very different salmon to the market with a higher level of omega-three and a higher health better health attributes than what you find in normal salmon. Arfelgoy also talked about the food safety programs that we are running. Our feed division is cleaning the fish oils. We have a very vigilant and solid food safety system for all our processing factories, all our primary processing factories.
We have products. So our branding strategy is really bringing this to life for the consumers as well so that they can understand and interact with us to understand what the health benefits of our salmon is. Transparency, I talked about a lot, and transparency is going to be a key for the brand. The brand is going to be open about what we are doing on sustainability, on food safety, on health and on taste. All these areas are important.
We have decided that all our branded salmon will be ASC certified, and we will also communicate that actively together with WWF. The last part of the brand is about food enjoyment. And of course, you cannot launch a brand without talking about food enjoyment and taste. And we believe that with the focus we have throughout the value chain on quality, we can bring a product to the market which is different and which serves a very different purpose when it comes to food enjoyment. You will hear much more about this in the next presentation.
And all this is based on our unique value chain, and this has been very important to us. We want to create a brand that is truly unique, that is hard to copy and that we can proudly go to the market and say this is our brand, this is who we are, this is what we do. And what we have in Marine Harvest is a very solid value chain. I won't speak in detail about all the things that Arfelge said, but just to repeat what he said, when you combine the effects of breeding with the effects of feeding and farming and add on the footprint we have when it comes to value adding, new product development and sales and marketing, I think we have a unique setup here, which we really can create something different to the consumers for. So the whole idea behind the brand and everything we have been focusing on since the very start has been how can we meet modern consumers' needs in a unique and attractive way, utilizing our capabilities throughout the value chain.
And then, of course, delivering the message in an engaging and relevant way is extremely important. And again, this idea of going from a reactive to a proactive communication is really important. We will use different communication channels. We will use social media. We will use cell phones.
We will use Internet, and we will use traditional media in our communication. And this is going to be an important, a big part of our budget when it comes to launching the brand, really going out there, telling the story in an engaging and inspiring way. And you will hear more about this later as well. So again, repeating the objectives here. As Alfaige said, we are not doing this only for the fun of it.
We do this because we think it is a business sensible thing to do and that the market is ready for it. And we are very much aware of the fact that this is a long term commitment, and this is a new area for us where we will need to build competence, where we will need to build infrastructure. So because of that, we will have to make a lot of investments in the beginning. But the long term objective is clear. We want to reach EUR 1,000,000,000 in turnover by 2025.
And on that, we want to achieve another €100,000,000 in EBIT above what we are doing on the rest of our fish. And to achieve this, we will need to invest, and we will start investing already next year, and we will invest approximately EUR 35,000,000 over the next 2 years. The idea is to have a brand that will go crush breakeven by 2022 and then deliver EUR 100,000,000 in EBIT by 2025. We have a plan. We have been working on this plan for a long time.
We know what markets we will launch in. Unfortunately, I cannot tell you today because I know some of our competitors are probably listening to the webcast as we speak. And I do not want to tell them where we will launch, but we will start in Europe, and we will be launching in more than one market in Europe in the first half of twenty nineteen. And then we will gradually gain experience, and we will gradually learn, and we will roll out the movie brand globally, continuing in Europe, North America and Asia from 2020. This is going to be a task that will take a lot of efforts, that will take a lot of time and that will demand a lot from us, and we have to build up new competencies.
We have to start learning to become a consumer oriented company throughout the whole company, but we need to build capabilities when it comes to marketing, branding and sales of brands within the company. This is a task we have been working on for quite a while, and I'm very happy to introduce the next speaker, who is a vital part of that. We recruited Andreas Joller as our Managing Director for Marine Harvest Brands from 1 August this year. Andreas has long experience from different branded companies throughout Europe. Most recently, he was acting as the Marketing Director for Coca Cola in Germany, so he was responsible for the whole German market.
He has filled many different roles within Coca Cola in Europe before that, and he has also been promoting the brands of Unilever in the frozen category for many years, and among them also fish. So Andreas has long experience and is adding a lot of competence to the group, which we haven't had before, and his task is now to build the Marine Harvest Brands organization that will be responsible for the rollout in Europe and elsewhere. So I'm very happy to introduce Andreas. We have so many Andreas in Marine Harvest that we have named him Andy, and he is starting to respond to that name as well. So Andy, I'm very happy to give the floor to you and to let us know more about the plans for moving.
Thank you.
So good morning. Let me start with a quote. And this quote from Victor Hugo, which says that there is nothing more powerful than an idea whose time has come, I think must have been very much on the mind also of our founders some years ago, some 50 years ago actually when they started to farm or start their adventure of farming Atlantic salmon. And today, we are at the moment where we really think that the next big idea has come, which will really enable us also as a company to take the next big milestone and eventually take another path on how we can add accelerated value growth to this organization. And we are in a good state at the moment.
Our business is growing very well. We have growing year on year with healthy margins. We have a lot of competitive advantages that Althelge has been talking about, which in the end power the growth very much of our business. And on top of that, we have leading certifications across all the different steps of our value chain. So in a very good position, but we want to go further, and we want to continue growing.
And we have also clear benchmarks on how we want to grow. We want to grow faster as well as our competitors, but we will want to grow faster than the food industry, which is a very ambitious target. And if we want to really achieve these very ambitious targets, we also have to leverage all our different competitive advantages across the whole value chain, all the benefits of the advantages that Al Helgi was referring to. However, if we want to really grow value and accelerate value, this needs to start at the end of this value chain. It starts with the consumer.
And I think that is the major difference for us now also what marketing and brand marketing can really add to the accelerated growth of this business is that really everything that we do as of now is fueled by consumer insights. And I will talk about 3 Cs today of what marketing can change, but consumer insights is the first and most important one because this will really make the difference. And everything that you see today is really grounded and rooted in relevant consumer insights. But even if we step a bit back and look more on the big megatrends in the food business, you can already see that this category of fish and seawood is really one which is propelled by tailwinds. If you just look at these facts that presently consumers in Europe claim 36% of them that they would rather like to reduce meat intake.
At the same time, 32% of them say like we would like to have more fish and seafood in our healthy diets. And the reason for this is very much also that it's driven by health authorities who recommend to have fish or seafood at least twice a week in their diet, and we are far away from that. And if you just consider that, you see how big the potential is. This growing demand for fish and seafood, though, goes along with also a strong desire from consumers to say like we want to have higher quality, and we also want to have really sustainably farmed food in general. And if you look just at these figures that 90% of the consumers say we want to have more transparency when it comes to food production, and we also would like to really have more respect in terms of animal welfare.
So there is this need for sustainability. There is a high desire also for transparency and for quality. And the good news on that chart is that 2 third of the consumers are also willing to pay a higher price for that. And that's where we're going to start. And the solution on how we want to grab this opportunity, how we want to capture all of these benefits is the launch of a global brand.
And now I introduce to you our new global brand, Mobi, which is already shown earlier. And it is obviously a reference to our founders. It is obviously a reference also to the Mobi breed, which is in the end, 20 sorry, 12 generations of salmon already since then. And you also see this little O symbol in there, which is also a reference to Omega. So in the end, it also indicates that our movie fish, the brand that we sell under that fish, has a higher health credential, a higher level of omega-three in it.
At this stage, let me give you a few thoughts about Global Brands and why a global brand makes a lot of sense for our business. First of all, the question is how do Global Brands really create competitive advantages? And now think a bit about the Apples and the Amazons, think about Coca Cola, Starbucks, Rolex, so big global brands. Of course, they all start from a competitive advantage or from a superior product which they create. But in the end, the real competitive advantage comes from something else.
The real competitive advantage comes that they are able to create an emotional bond with their target groups. And brands are able to establish this connection if they are able to convey a human value which is relevant in the very moment of consumption. For example, when I drink a Coca Cola, if I'm able to convey the value of happiness, then I'm 1. If I wear a Rolex, it's the value of status which I have in that moment. It is these things, these emotional values, which in the end create the real bonding and the real competitive advantage.
Now the question is how do they build how do they get the additional or higher yield out of this competitive advantage? The actual yield or the higher margin comes from the fact that based on this emotional connection, they are able to build loyalty and habits. And once we have established loyalty and habits, then you are in a phase where really you have longer higher long term yields that you can generate because this goes far beyond in purchasing acts than the initial purchases which you have been driving with the help of some upfront marketing investments. So that is the real equity of a brand. And last but not least, there is a question, how do brands also support the category growth as such?
Brands very often or normally become the face and the voice also of a whole category. And by means of that, becoming that voice, they are able to finally also protect the brand against any types of myths, half truth, which very often come from the outside. Brand or categories which have no brands are very often mute and just reactive. And this is very much a situation which the salmon category is in, in this moment. And that's something which we want to fundamentally change for our brands.
Now what do brands use in order to really, really also create a difference? They use communication and creativity. They use communication to talk about the benefits which they have to consumers, and they talk about it proudly and loudly, and they use creativity to engage consumers and ultimately fall in love with that brand. And now just think about your personal situation. That's exactly what you do.
Once you wanted to attract your partner, you were communicating your benefits very, very actively, and you decorated it also with a bit of creativity, which you might have added to your story. And these are the kind of secret elements that brands use. But brands don't do this for the sake of it, obviously, because once a brand has succeeded to build or to make consumers fall in love with the brand, then a brand creates value. And value is nothing else than the amount of money which people are willing to pay for a brand. So once a brand has been able to create a higher value perception in the minds of consumers, then they are also able to ask for a higher price of their brand and ultimately also to create higher margins.
Because the end objective of a brand very clearly is the only, only one thing, is to leverage the benefits of the brand in order to sell the product more often to more people at a higher value. That is the purpose, and that's also our vision behind. So the key question is now, how do we try to achieve our objectives with Movie? How will we use the Movie brand to leverage communication, consumer insights and creativity to achieve all of this, to create competitive advantages, to deliver category growth and ultimately also to yield the higher margins that we want to deliver with the movie brands. And we created a plan, which builds on 7 key elements, and we'll go through all of these elements step by step.
But in the end, if you want to be successful with the brand, it starts with having a real strong and credible idea. You obviously need to translate this idea into a superior product with a real competitive edge. You need to present all that you have, your brand and the product, in a superb and also very consistent brand appearance. You must be able to tell the story of your brand in a very credible and also creative way. You need to build occasions.
You need to build occasions to drive frequency and also to generate trials, occasions where the brand is consumed. You need cutting edge in store presence because that is the moment of truth when you are in store. And if you do not have a strong appeal at that moment, you have lost. And last but not least, everything is behind a strong ambitious expansion plan that Ulla has been indicating before because this expansion plan is, in the end, what also will help us to deliver the economies of scale that also obviously is also behind any brand investment that we want to build over time. So the first part is to really have a winning idea, to have a winning idea that is simple, that is better, that is different, and that is obviously unique compared to competition, something that people have been really waiting for, and we have found that idea.
And we have thoroughly tested the idea that I will be talking out in a few moments. We have talked we have tested it with over 5,000 consumers in 2 of our proposed launch markets at that point of time. And the consumer feedback was excellent. And it was a clearly winning concept with a significantly higher purchase intention than the leading competitors in these markets and also with significantly higher purchase intent than also organic brands, which normally have in consumers' minds in many markets already a particularly high also level of perception and specifically value perception as such. So we are in a good position evidenced by consumer evidence.
And the idea which I'm talking about and the human value behind that idea is a very simple one. It is all about caring. And caring is our key story to our consumers. The care promise is everything what it's all about. But if you tell a story to the consumer, it obviously needs to be credible.
It can only be credible if the idea has a lot of proof points behind. You cannot simply invent something. You need to be authentic, and it needs to be credible. And obviously, the credibility from our Care concept, first of all, comes from our heritage, comes from the more than 50 years of heritage which we have behind, the expertise, the craftsmanship which we have. It comes from the fact that we have this competitive advantage of 12 generations of unique, really well selected genetic breed, which in the end is the ultimate benefit which delivers the superior product as such.
But our caring promise, of course, also includes that we, as movies, say to the consumer, we care for our salmon. And here we are at the point where the whole value chain comes into the place, that we have a superior food, which results in higher nutritional values that we have specific farming locations, which help the fish to grow specifically well, that we have in the end also careful selection across the supply chain that we only choose the best fillets for movie, that we cut them in a perfect way and that in the end, we also use an advanced packaging, which gives a particularly high level of convenience and also food enjoyment that the consumer can have. Our care promise to the consumer also includes the environment. As you heard before, this is a key element also in any story these days when we talk about food. And of course, the whole story of really protecting the surrounding nature, to taking care about animal welfare and also to be caring about the natural resources that are there, this is a key story.
And that's why the movie Selman is, of course, bred sustainably according to the higher standards of ASC, which is endorsed by the WWF. But in the end, and that's probably the most important thing, we care about our consumers because we care about good food, and good food is about caring. When you serve food, you either care specifically about yourself or you care about your loved ones. And that's the understanding what we have, and that's in the end the promise of our whole story that we make is that we offer a salmon, which is extra nutritious, which is more healthy, which is truly delicious and which is particularly convenient to enjoy. And we have brought all of this together into our promise to our consumers, and we have brought this into a film, which will give you an idea of how this care promise looks like, and that's what we're going to show you now.
At MOWI, we care about salmon. That's why we offer them the cold occurrence and a diet that helps to grow them strong and healthy. Since we care about salmon, we care about the sea. We respect the ecosystem of our salmons, because only if the sea stays sea, our salmon stays salmon. As is the blue planet.
And as we care about nature, we care about your family. We handpick our best salmon from every generation, so we can offer you that beautifully marbled meat so typical for the Malawi salmon. You see, 50 years taught us that everything comes back to you. And that's why at Moey, we care about salmon.
And that is our line. And that's what we say. We say there is salmon, and salmon is good, but there is movie, and movie is special because movie is goodness. And this line, and I think it's a very important statement in 2 areas. First of all, we state Selman is good, so we make a statement about this category, which sometimes is attacked by different messages.
So we make a clear statement salmon is good, but we also make a clear statement that there is something more special about movie because movie is goodness. And care pays out. And the care pays out because it delivers a superior product and a competitive edge. And as I'm coming from Coca Cola, I have a bit of an affinity to secret formulas. So this is, in the end, the secret formula of our movie brand.
Movie
is, in
the end, a product which delivers because of the special our special movie feed delivers a higher content of omega-three. Every movie fish has a significantly redder color, at least 27 summer farms, so clearly defined also in terms of the color. It has a softer marbling. And for all the breeding that we do, it also has a less fatty and also a firmer texture. And all of this is, in the end, enhanced and amplified by the careful selection, which happens for the movie fish from the breeding throughout the whole supply chain as just described before.
So in the end, Special Care or Superior Care in the movie brand, in the end, delivers superior health and specifically also superior quality and a better taste. And the better taste in the end is what we are working for because in the end this is great tasting food that is the thing. And we will offer Movie in 3 different lines. We will start with the launch line, which is Movie Pure. These are our high premium and really ready to cook premium cuts that we offer from MovieSalmon, both pure and also smoked.
The 2nd range is Movie Signature. Movie Signature is, I would say, a very convenient, delicious, I would say, almost gourmet line of ready to eat movie products. And the 3rd line, which we'll offer is Movie Supreme. Movie Supreme is a specific offer to our, let's say, most advanced and most expertise clients to restaurants and also to gourmet stores because this is the best of the best which we can offer from movie salmon. In the end, these are our movie broodstock fish, so the ones which are actually there to breed the next generation.
So this specific quality will be offered to these very specific customers. And the Movie Supreme smoked salmon is just tasting amazing. And if you don't trust me, you will have the opportunity right after this session to taste it, and I'm 100% sure that you will agree this is an extreme high level never seen before also in salmon smoked quality. If you have a winning idea, if you have a superior product, it is very, very important that you also show your brand and all that you have in a really, really superb, advanced and specifically consistent brand appearance, which we normally call the Visual Identity System. The most important element of the visual identity obviously is the packaging.
And we have put a lot of effort in the packaging development of Movie Fish because we had a clear vision and we had a clear ambition behind that packaging. It started with the fact that it should be something simple. It should be timeless. It should be iconic. Secondly, there was a clear idea also to say we want to give the product the center stage.
Movies and salmon in general is such a fantastic, beautiful product, put it in the stage, put it in the center, make it transparent and make it visible. And talking about transparency, of course, this is part of our promise. Transparency as such is so important to the consumer that it was very clear for us that whatever we do also should reflect in the whole packaging design a clear and high level of transparency. And last but not least, we put a lot of consumer research, again, also behind the packaging development in order to understand from consumers what is really a good salmon packaging about. So what is convenient for you?
What are the things which at the moment annoy you about all the packagings in the field? And we got a lot of interesting and very relevant insights, which we have translated into, I think, really exciting packaging. The bad news for you now is that I cannot really share it with you because we are still ahead of the launch. And of course, we don't want to here show all our ideas and all our appearance to our auto competitors who might watch at this point of time. So we still want to not jeopardize the launch.
However, I just picked out one idea out of that set, which I think illustrates very well what we are talking about. This would be a packaging for our Movie Supreme launch. So this broodstock fish that I was just talking about before. And it exactly reflects what I was just saying. So fully transparent, so full visibility to the product.
The product clearly in the center and just with an iconic little branding of movie on it. And of course, highly functional also to carry away and open easily. So that's the basic idea, and this has been translated now in a lot of different ideas, which hopefully you will enjoy very soon as when they are in the marketplace. But transparency, of course, goes beyond just nice product visibility. Transparency on packaging also includes traceability.
It was mentioned more often already in the other species. So this is the point where it's really about every pack should give our consumers a clear idea of where this product comes from, of where the movie salmon was spread, where it was farmed, how long it was there, what was the wait when it was taken out of the water, where was it processed until finally you bought it there in the retail shop. So transparency across the full value chain. And we have done this by means of this little QR code, which you will find on all Mobi packages. And when you touch it with your smartphone, you will get an idea of really where the product comes from.
And this is now the moment where you are encouraged to use your mobile phone and very simple, open up your camera, point it at this code, and then a pop up comes and then simply put your finger on it, and you are in the world of movie Selman already. Of course, the information which is in there is a dummy at this point of time. I hope it works. Just the camera. Just point your camera on it, and then already a pop up should appear.
And then you just put your finger on, and you should be in the movie world. Where did it work? It should. The idea, of course, is also to use this moment when a consumer has a very high engagement with the product, not just to give him all the information that we have about where the movie fish comes from and where it's passed the different stages, is, of course, also our opportunity to tell our whole story of care, to show them some videos and, of course, also give them some recipe ideas of how to handle it. So this is our idea.
This is our vision of how we care, and this is also our vision on how we are fully transparent with our consumers about the quality because it is a great product, it is a great brand, and there is absolutely nothing to hide. And we continue this idea also of transparency even by putting a webcam actually into our pens, which in the end gives the consumer a permanent visibility of our fish because we are fully transparent. So we show them how our fish are living very well. In the end, we call this the longest TVC in the history of mankind and it's so long that you can also use it as a screensaver for your laptop as well. And one thing is for sure, you will never get bored by movie, That's for guarantee.
So, this was one part of it. So, it's a story of also of transparency. But we have a great story to tell. Our story of care is something which is, of course, very relevant to our consumers, and it is important to sell it in a credible way. And that's what we did.
And you already saw the film at the beginning of this morning, and I will show it to you once more right now. And I just want to add a few things in there because this film is the story of Andre Ottalay. And Andre, I'm probably pronouncing completely wrong, but Andre is one of our farmers, of our employees who works on one of our farms in Norway. And this is the story of why Andre cares for the sea and why he and his all of his colleagues care day by day for the best salmon. And they care for it in the end for a very simple reason because as all of us, they are human beings who care for themselves, who care for their families and who care for their loved ones, and that's why they want to deliver the best possible food on the world.
And the great thing about this film, and I say this with a lot of pride, is that all the characters in there are Marine Harvest employees. So these are not actors. These are really our people, and I think they did an outstanding job also in how they acted. So enjoy it once more.
I'm a farmer, a farmer of the sea. I've spent all my life in it pursuing the perfect salmon. And the one thing it has taught me is the sea will only give you what you need if you work it with respect. This land knows no borders, and we can't afford to make the same mistakes we made on the mainland, or the sea will turn on us. That's why I know that if I want to care for our Samans, I have to care for the sea, trying not to tame it or force it, and caring for the cold crystal clear water they need.
Because only if the sea stays sea, our salmon stays salmon. And when I do that, the sea cares for me and for you and for all our loved ones by giving us the finest marbled meat of the Moi salmon. The recognition on behalf of the sea for a job well done. Salmon is good. Maui is goodness.
Because we think that the story of this business is so fascinating and it's sometimes really exciting as a thriller that we felt like we put the whole thing into a book. So the story of our, let's say, forefathers who founded that business, the Moewig to the Laram family, this has been put now into a novel. So it is a bit of fiction in there, of course. But overall, it really tells the story of what we have been doing as a business. And you will get you will actually be the first ones who get a version of this book also at the end of the day where you can really read this story.
And I also would like to emphasize this is not just an internal gimmick that we are doing. This book will be sold. First of all, this will be sold on any bookstore that you can get. And it is also something which is also an important part also of our brand strategy because it tells our story of caring because the story of these families and of these founders, this is a story of perseverance, it is a story of risk taking, and it is a story also specifically of the caring for a work well done. Once we have established a brand, the next important point is to build occasions for the brand to be consumed.
And this is not just important to drive consumption frequency of your brand, it is also important to build habits and ultimately loyalty. Coming back to what I said earlier, this is in the end how you create the real equity for the brands because you make your brands on the table or on the go available for your consumers at specific points of the day or a week or whatever. And this is also what we have done in the next film that I'm going to show you. The great thing about salmon in general is that it is so versatile that in the end it fits into a breakfast with smoked salmon. It is a wonderful snack in between.
It is a nice lunch that you can have, and it is certainly also a wonderful centerpiece of your dinner. And this notion of really giving this idea that really salmon is a universal and movie salmon is a universal great thing to be consumed across different occasions. This is the story which we'll tell in this next film. And of course, it is also important to use the contemporary food language. We are talking about the target group of millennials.
So it is also very important to speak their language and to engage them in these occasions. So let me show you that film.
Business breakfast with any kind of success. Monday night dinner for Big Family Smiles. Bearded Bros barbecue out in the wilds. Burritos and burgers and salmon on wheels. Wrapped up with veggies in rolls with appeal.
Center of Christmas on a chateau in Le Chaffeau Saint du Sont, craved, enjoyed, and desired by any good person. Moray is good in
your mouth.
Moray is good in your body. Moe is good always. Salmon is good. Moe is goodness.
Start building occasions also for our brand. We have some other ways on how we state a point of view of what movie is all about, for which occasion movie fits and specifically also always making the clear expression that movie is something special, that movie is different. So movie Selman is not the ordinary thing. For example, here a statement and you can read the copies yourself, but it's just an idea here also to say like this is the rescue for you out of the dinner sea of sameness which you normally have. Or another great thing about salmon, about movie salmon is that it is so universal.
So it has really the capability to turn, let's say, a very normal everyday dinner or everyday meal into something very special or to make a very formal eating occasion into very informal great moment of food enjoyment. And when we talk also about occasions, it's also important to know that special occasions also deserve a special salmon, and in that case, the movie salmon. And we have created a number of ideas on really to think about how can we use specifically also special occasions to place movie in there. Again, something which I cannot share at this point of time. I also don't share with you what is planned to be in that box.
But for sure, it is something which will help you out if on a late afternoon on the 14th February, you have realized that you have forgotten something. So in the end, we said we make the statement that Movie Selman is something special, for example, the role model of a good marquee. And movie is certainly as special as some other seafood types claim to be, as you can see in this copy. Movie is always positioned as the centerpiece on your plate next to a lot of ordinary stuff that you normally get. And movie also tells you a story for life that only swimming against the current creates really strong and healthy characters.
And there are also a lot of surprising and good benefits also in the movie Selmon, as you might see on this little copy idea behind it. So movie in the end, and that's the overall story which we want to tell, is clearly a rock star. Having established occasions for the brand, we go to the next point, and this is to create the cutting edge in store presence. I already said before, this is the moment of truth. And this is the place where really you need to stand out, you need to have a strong appearance also with your brand.
If we look at our present status, if you look at the moment of the status of the salmon and fish and seafood category, it is not an exciting place in store. It is quite a boring, a dull place. It is a place with high clutter. It is a very, very messy place. So if you stand as a shopper in front of that shelf, you are just lost.
And it's certainly also not a place where you go to, where you spend a lot of time. It's one of these areas where also that shows the time you rather quickly leave and go somewhere else. And that's something which we want to change fundamentally also with our investments. Our clear ambition also with Movie is to really make also the fish and seafood category a clear destination zone in the retail shops, a place where you go to because it is a great experience, because you have orientation and where you find great food and you are inspired. And that's our ambition.
We start very simple. So it's just about 1st and foremost to go in there and create some differentiation also for the brand as such that there is some iconicity and that there is a new and different way of presenting quality. We'll do this with different types of coolers, and I'll just give you here a quick flip through of some of these ideas. But it is also important, and that's what I mentioned before, it is also important to give orientation, to give structure and to help consumers also on that shelf, which at the moment is just a mess. So we're trying to bring in, of course, not just attention for the brand, but also a new dimension of orientation within the Fish and Seafood category.
Some more examples. And in the end, of course, that's what we really envision, yes? So we also this is what is a real food experience then in a store, to have something like a shop in shop concept, like a sushi corner or something else because it is about food and it is about also creating new experiences for the shopper on their way. And we even add some more excitement to the shopping experience. So one of the areas which we'll show there is that consumers can, with virtual reality glasses, really experience the whole movie journey.
Again being fully transparent where does the movie fish come from, where it is bred, where it is farmed and really get the full story from the original breed to the moment when they are on the plate. And we claim to ourselves that shopping fish has never been more exciting before, and it's also something which you can also experience right after this presentation here. So you will have the opportunity to also experience in quite a real way on where Movie Fish comes from and why there is so much special care in this fish and the exceptional quality, which Movie Cellmen is all about. And last but not least, as said, and Ulla has described it very well, is what is our ambitious expansion plan also behind the brand because the expansion plan is the thing which in the end delivers the scale also behind all the investments that we will be taking upfront. And there are internal ambitions, but we also validated them.
So we also looked very carefully and made a volumetric test with Nielsen to get an idea, are our ambitions also really achievable? And I think the outcomes of that test were remarkable in 2 areas. First of all, once more, it was reinforced by the volumetric test how really special and highly appreciated the brand and the product is from consumers. So the whole product performance, the level of trial, the level of purchase and the level of repeat purchase after trial were so high that movie Selman in the database, in this huge database of Nielsen volumetric tests, ranked in the top 20, which is an amazing result, and it just shows how strong the concept is. And then we, of course, then the model then also calculated for us like, okay, where does the whole thing arrive?
And what it actually put out was that within 2 years, this is able in the launching markets to achieve 28% of our whole marine harvest retail value that we achieved there. And this is fully in line with the ambitions that we have seen there. So the model has, in the end, validated also very much our ambitions that we have stated before, and that's good news. And all, of course, this happens in line or in parallel to what transforming our business and also our whole organization into the movie business because in the end, everything that we tell also in our communication, what we tell to our consumers is one story. It is a story of our brand movie, but it is also a story of this organization, the story of its heritage, the story of our vision of the Blue Revolution.
It is the story of our values which we have, and it is also a story of the new direction that we are going as an organization, which is a direction into a consumer demand oriented organization. And that's the story of Mubi. And so in the very end, I stay in line with what Mubi is stating that some people are good investors, but some people invest in goodness. And that's particularly where I would like to leave you with. And I thank you very much for your attention and hope that by now you agree with the initial statement of Victor Hugo that there is nothing as big as an idea whose time has come, and we are very much of the conviction that the time is now.
So thank you very much. I think so now we are at the Q and A. And I think Kim, you moderate it.
Vida Strahd from ABG Sundal Collier. First, what will be the first initiative? And what is it that we can actually observe of these plants? Where do we have to travel? What can we see?
And the second question is related to how are you going to measure the results so we can follow that this is progressing according to the plan?
Yes. I
can take the first one. In terms of where you can see this first, I think it was just said that this will be communicated in due time. We will not reveal what market we will go into. What we have said is that we will go into a market in the first half of twenty nineteen. In terms of communication on regarding how much of it is selling, how is this progressing and so forth, we will come back to Turo and good way to do that when we report Q4 results in February.
I think that is fair. More questions? The one back there, Kim.
Alexander Reitlinger, DNB Markets. Are you not scared that by defining a certain portion of your volumes as very high end movie that you're diluting the remaining values or the remaining volumes?
No, actually we are not. The fact is that we will not change the quality of what we're already supplying our partners. We will continue to work with them, and the movie brand is a special brand of a different quality than what we have already. But that is not taking down our existing volume. It is adding another product to the category, which would fulfill a different role, which will play a different role in the category and which will actually promote also the private label products we are supplying today by enhancing the overall image of the category.
So for us, it's really about a win win strategy where we will add value also to the private label part of the business by going out there, communicating more actively on the category in total through the brand.
Just a follow-up on that one because obviously, there is a risk that the retailers might look at this as cannibalization of their private labels. And are these other retailers, your customers, are they fully into your ideas on this? Will they follow you in this strategy?
As part of the preparations for the brand launch, we have had discussions with a few retailers. And I think the message we get quite clearly back from them is that as long as the brand adds value to the full category, we are okay with it. But of course, if we added a brand which was competing directly with their private label products, we would be in a much more difficult situation. But that's not the idea. And I think it comes very clear from what Andy just presented and also when you will see the product finally, which you will in due time, you will understand that this is something different that will not compete directly with the private label.
So this has been very important to us all the way. I mean today, our business is private label, so we cannot jeopardize that part. And our strategy will never be to jeopardize the private label part of our business by introducing the brand. This is something that will add value to the category, and that's the whole idea.
I have a similar question, which is your brand, DuckTrap, has been very successful indeed. So how does this fit with this global movie branding? The success of DuckTrap, I guess, is it's a local brand. It's an origin brand. It's authentic.
Movie is global. Does global fit with the origin authentic local idea? Clearly not. So how do they work together?
Yes. No, I think they are we will not discontinue Duct Trap, absolutely not. Duck Trap is, as you say, a very successful brand, been in the U. S. Market for a very long time.
The story of Duck Trap is really a story of local production up in Maine, and they use that part of their story to communicate about the product. So it's a story about provenance, but the provenance of Maine, locally produced in Maine. And that can very well fit together with the movie brand. It's just that they fill different positions, different roles in the market. So when we launch in the U.
S, ultimately, we will need to balance that out so that Movie plays one role and DuckTrap will continue to exist as a brand locally rooted in Maine and continuing to work as they do. And as you probably know, DuckTrap is a relatively small brand, very high end and very particular on the provenance from Maine. And that there is absolutely room for within the new strategy on Woodland.
Maybe just to build on that. In the end, the idea is certainly to arrive at the brand portfolio, which is very complementary to each other. And specifically, these two propositions that you're just talking about, they are very different. So they are very complementary with different objectives, different targets as well. So I think this will work very well together.
It's not an eitheror.
Fadi Jakku from Rabobank. Thank you very much for the presentation. And as you mentioned a couple of times, competitors are watching and you're not revealing everything. If you look at your numbers, have you incorporated in there that if this is going to be a success, your competitors most likely will do exactly the same and will try to gain access to this premium Selmer market? And is that kind of incorporated in your numbers in 2025?
I think it's fair to say that you always have to be number 1. You will always be tried to be copied, and you have to be 1 step ahead. And that's why we're not revealing this the products per se. And as we speak, we continue to develop products that's going to be launched in 2020, 2021, 2022 to stay ahead of
the game. And if you
don't do that, you're out of the game. And within these numbers, yes, that is calculated.
Okay. We have a question from the webcast from Mikkel Nyhultkanege. Can you please elaborate a bit further on why the new Movie brand will not be in competition with other retail products produced from your salmon?
Because in the end, it delivers completely different benefits to it. So the Movie brand has a specific promise, which simply goes beyond the ordinary standard. And I think the important thing, and Ulla mentioned it already, also with regards to also the retailers, movie brand is always a story also of growing this category because that's, as we all know, is the story which also retailers are interested in, and that's also the story which also our business is interested in. So all that we do there will always be complementary to our private label business and is primarily also, in the end, driving the whole category. I always say that next to the brand objectives, there must always be the category objectives.
And I even say that if category growth does not come along with the brand growth, then the brand has not done its full job. So in that sense, the thing go very well together.
Karl Johanerssen, Pareto Securities. You said that you will have these farms producing the Mover salmon all over the world. Can you say something more how you will choose these farms? And what will be different from these farms than other farms other than feed and breeding?
Well, the first are already chosen, and we select farms where we think we know we have good tradition in growing good fish. But for the practical point here, it is the logistics, obviously, of special feed and special breed. And that's why you have to choose these farms. And then as we add on more farms, we go into more markets, we have the opportunity to do it in different geographies closer to market. If movie is launched in Brazil, it's natural to do it in Chile.
Lars Jonsson, Fearnley Securities. Could you give some color on the kind of the developments that you have done recently when you have tested the product some markets? And what kind of achieved premium on price, etcetera?
No. What I can say is that in the Nielsen volumetric, we actually tested with a price premium of minimum 20%. So we tested different scenarios, but the minimum here was 20%, and that was the result which you saw there.
Kim, it's so bright and shiny up here. It's hard to see you. Yes.
Christian Nordbeck, Kepler Cheuvreux. You're investing now €35,000,000 And then how is your value added processing setup for this new brand that you're now selling? Do you have to invest further there as well? Or is it all good to go?
The SEK 35,000,000 investment, that's the total investment including marketing, advertising and all communication around the brand. So that's important too. So it's not capital expenditure as such. It's not investing into facilities. We believe we have the facilities we need in order to produce the brand.
There will be some additional equipment for special packaging and for special cuts, but that's minor and it's within the already existing budgets of our downstream operations. So we are not foreseeing any significant capital expenditure on the brand specifically.
Feed is a very important thing in this process. If you're going to have superior feed, can you tell us more about that? I mean, you talk about ending up with more omega-three. The other thing is, does Marine Harvest have the skills to develop better quality feed than other people? Other people have been doing it a lot longer.
Do you need to look to other industries or make acquisitions to bring your feed effort to the level at which it needs to be to produce this superior fish? Doesn't it all come well, you've talked about genetics too. I don't feel we've heard nearly enough about feed.
Well, to be honest with you, in terms of feed, the feed industry in our space has always focused really in one thing, and that's producing feed. They have never looked at the consumer or the quality of the end product or at least that's been very in the back of their mind. So when we have integrated feed into our business, that's just in the thoughts around that. We actually produce feed for the end product, not produce feed for the farmers or the fish itself, disregarding the end product. And I think this is highly interesting.
And in terms of your question on competence, yes, we have it. And we have increased our R and D competence and FEED. We benchmark our feed in terms of kind of growth capabilities and all these traditional benchmarks. There's very few that actually is going in and comparing what how is the quality of your end product looking in regards to the feed you put into the fish? And that's where I think actually we have an edge over the feed producers today.
And today, we can look into new raw materials. We have looked into using what would insects insect meal do to the quality of the end product? What will algae do into the quality of the end product? Can we raise our or specific fish oils to get a better fish oil statement. That's pretty easy because fish oil in this case is you almost mimic the oil you give to the fish to the oil you actually get out of the fish out of giving the feed to what you get out of fish.
So I think we can do a lot, and we have done a lot already. And now we can use this feed onto our specific selected brew stock, which is in line in the value chain. And at the end of the day, what are we looking after? We're looking after the special fish that you're going to buy. And there's a lot more to be done in this field that's never been done before.
What about structure of the fish, the taste part of it? We know when you feed when you use more fish oil into fish feed, the salmon changes taste characteristics. No doubt around that. We have been working in, for example, in Ireland in organic salmon with basically much more fish and offcuts into the feed has a different and a specific taste. So yes, I think we have the competence.
I think we have to gain more knowledge. There's no doubt around that going forward. And this is an extremely interesting field if you combine it with the genetics. And that's why I am very happy to have Andy on our team and Ulla and the rest of the organization, but that we can do this together and get the end product that's something special, I really look forward to. And it's about time that we are putting all these competencies together to see the result at the end product.
That's a long answer, but you have good points. More questions? There's one there in somewhere.
Thank you. Maxime Bucquet from Moneta. I was wondering if you are going to increase the share of organic salmon in the context of the new branding strategy of the company?
As you know, we are one of the biggest producers of organic salmon and we are by far the biggest seller of organic salmon in Europe. Organic salmon is going to be a part of the new brand. So we will have some of our products where you will have movie, but you will also have an organic movie product in the market. So yes, we will include organic in the movie brand, but we will also continue to sell our organic fish in other segments.
Okay. We have another question from the webcast from a private investor named Peter Rainer. Can you give us some updates about the plans for rolling out Supreme Salmon in China? Will this be linked to the movie strategy?
The Supreme Salmon concept in China has been a part of the overall strategy for our growth in China for many years. So at the moment, we have no immediate plans of merging
There's one in the front there.
Just on the omega-three
characteristics, are you going to certify that this product has got a higher omega-three? Or is that going to be measured? Is that how is that going to be advertised on the product?
Andy, you want to
answer? Yes. No, the product has it is certified that it has a significantly higher level than our standard thermal product, yes. So that's what is certified indeed.
And also, we do certify or not certify, we don't, but we have a set level also on our private label products, 1.4 gram of Omega 3 per 100 gram of fish, which put it in the category of wild salmon. So think about that. So it's not it's like exactly what they said earlier, salmon is good and then move is goodness. That's
sticky. I have two questions. In the store, when you buy a movie product, will you see immediately on the packaging that this is from Scotland? Or will you only find out by looking at the QR codes? And then the second question is about these fancy coolers we saw.
Are they going to be on Marine Harvest balance sheet? Or who's going to pay for that investment?
So the second one, to answer that one first, I mean that's in the end the discussion which we have with the retailer always, yes. So because it's like in any other business, some retailers don't even allow, let's say, other equity in their stores. So they only want to have their coolers. But it is for us definitely whatever we do in store an important investment for us because it is the key investment to build the brand and to also build initial trial on it. So in the end, it will be a singular agreement, I would say, retailer by retailer.
Sorry, what was the first question?
Scotland.
Scotland, yes. Origin will be on the pack visibly.
Okay. I think that concludes the Q and A part because we also need to move on to the next session, which are the breakout sessions. So we have many more opportunities to ask questions throughout the day to all of us. This is the plan for the breakout sessions starting now in the room that you entered. You have been given wristbands with 5 different groups, passion, change, trust, share and care.
And we will do 2 breakout sessions, one called caring and one called Salmon Master. The passion group starts with a caring session and the change and trust people, you go into the Salmon Master breakout session. And then the other 2 groups can have lunch in between. And then we will each session will last about 15 minutes and then we will just alternate. It's important that the care group, you do the caring session towards the very last because you will be on bus number 2.
Bus number 1 leaves at 12:15 outside. Please bring all your luggage with you and be in the bus at 12:15. And for those of you who have been assigned bus 2, we leave at 12:45 to do the Rossite factory tour. So with that, please enter the room next door and then we can start the breakout sessions. Thank you.