Ann: Yowie Secures New Manufacturing Agreement, page-64

sure, agreed. Yet they have not seen it as viable to compete up to now - and that's at least two years. There's nothing to suggest that might change, and Yowie's first mover advantage grows and grows all the time. I would think any Ferrero entry is less and less likely to happen as time passes further and further. But, yes... who can tell the future? Alternatively, we might hypothesise that if Ferrero were seriously interested entering this space again their calculations and strategy might make it more worthwhile to take over Yowie thus acquiring an established brand and simultaneously eliminating it as their major competition.