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By Angus TESTER, Investment Manager European Equities – Aberdeen Standard Investments
As the market continues to wrestle with the uncertainty of Brexit, another 'B' is also polarising investors – Brands. In the last 12 months, several high-profile consumer goods companies, most notably Kraft-Heinz, have issued profit warnings. This has prompted some commentators to proclaim that the era of the big brands is over and that the future belongs to smaller, so-called 'craft' brands. However, to paraphrase Mark Twain, I believe that reports of the death of big brands have been greatly exaggerated.
Driving much of the rush to call the end of the dominance of the big brands is the disruptive influence of technology. Perhaps this should come as no...
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