Youth instead of culture: Nestlé drops out as main sponsor of the Verbier Festival

Nestlé subsidiary Nespresso is pulling out of the Verbier Music Festival. The festival has to look for a new main sponsor.

nespresso-verbier

A Nespresso spokeswoman confirmed to the Handelszeitung: "We have decided to end our collaboration with the Verbier Festival." This is piquant because the president of the Verbier Festival Foundation is Peter Brabeck, long-time head and chairman of Nestlé. Brabeck will have to look for a new main sponsor, as the 250ʼ000 francs annual sponsorship money will be eliminated. In the future, he says, the coffee capsule manufacturer will focus more on gastronomy (Gourmet Weeks) and cinema (Zurich Film Festival).

The background to this is a change in strategy throughout the Nestlé Group, initiated by CEO Mark Schneider. While Brabeck relied heavily on first-class cultural engagements, Schneider is focusing on breadth and youth. The Verbier Festival, founded in 1994, presents international stars of classical music for 17 days in July. 

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