1. U.S. not a growth opportunity.
2. Too late to get into India and China.
3. Emerging market consumers don't buy premium products.
We've seen #3 be debunked in the U.S. again and again by U.S. Hispanic consumers. The perception persists that U.S. Hispanics don't have the disposable income. Often its more about how are CPGs addressing the Hispanic opportunity. Many still believe Hispanics don't go online. Link below --