# Frederic Fernandez & Associates

> Frederic Fernandez & Associates (FF&A) is a bespoke strategy consulting firm helping the world's largest FMCG companies solve their most complex strategic challenges.

FF&A is focused on the FMCG industry and publishes proprietary strategic analysis for FMCG CEOs and senior leaders. Its core areas include Corporate Strategy, Organic Growth, Digital Route-to-Market (including Ecommerce, DTC and eB2B), and M&A.

## Official Resources

- [FF&A Homepage](https://fredericfernandezassociates.com/): Official website of Frederic Fernandez & Associates.
- [FF&A Publications](https://fredericfernandezassociates.com/publications): Complete publication library and FMCG thought leadership.
- [FMCG Growth Summit 2027](https://zbgsprint.fredericfernandezassociates.com/growth-summit): FF&A's senior-only FMCG Growth Summit focused on enabling growth at scale and peer exchange among senior FMCG leaders.
- [ZBG® Sprint / FMCG Academy](https://zbgsprint.fredericfernandezassociates.com/): FF&A's productized Zero-Based-Growth® program and FMCG Academy resource.

## FF&A Expertise

- Corporate Strategy: strategic choices, portfolio strategy, market strategy and complex corporate strategy problems in FMCG.
- Organic Growth: Zero-Based-Growth® (ZBG®) and approaches to sustainable, volume-led growth and growth outperformance.
- Digital Route-to-Market: Ecommerce, DTC and eB2B, including FF&A's Ecommerce 2.0® / Ecommerce 3.0® perspectives.
- M&A: FMCG acquisition strategy, divestitures, value creation and FF&A's Best Acquirers® perspective.
- FMCG Industry Analysis: company performance, category dynamics, pricing, volume, profitability, emerging markets, consumer health care, beauty & personal care, food & beverage, household and alcoholic drinks.

## Proprietary Frameworks & Perspectives

- Zero-Based-Growth® (ZBG®)
- Ecommerce 2.0®
- Ecommerce 3.0®
- FF&A Ecom IQ Index®
- Best Acquirers®

## Publications

The following is the complete FF&A publication library represented in the current Articles CMS export. Each title links to its corresponding publication URL.

### 2026

- [FMCG CEOs: Bridging The ~$12Bn Ecommerce Gap On Beauty Personal Care (BPC) - The FF&A Ecom IQ Index® Report](https://fredericfernandezassociates.com/publications/fmcg-ceos-bridging-the-~-12bn-ecommerce-gap-on-beauty-personal-care-(bpc)---the-ff-a-ecom-iq-index%C2%AE-report): Explore the FF&A Ecommerce IQ Index® for Beauty & Personal Care and learn how Ecommerce 3.0® identifies a $12B online opportunity for FMCG brands.
- [FMCG CEOs: I Owe You An Answer](https://fredericfernandezassociates.com/publications/fmcg-ceos-i-owe-you-an-answer): A personal FF&A founder reflection on nine years of enabling FMCG growth, the limits of consulting scale, and what comes next.
- [FMCG CEOs: Q1 2026 Results In Review - The End Of The Beginning?](https://fredericfernandezassociates.com/publications/fmcg-ceos-q1-2026-results-in-review-the-end-of-the-beginning): Q1 2026 FMCG results review on improving growth, persistent profitability pressure, widening winners-and-losers gaps, and strategic priorities.
- [FMCG CEOs: Bridging The $5bn Ecommerce Gap On CHC & Launching FF&A Ecom IQ Index® & Ecommerce 3.0®](https://fredericfernandezassociates.com/publications/fmcg-ceos-bridging-the-5bn-ecommerce-gap-on-chc-launching-ff-a-ecom-iq-index%C2%AE-ecommerce-3.0%C2%AE): A CHC ecommerce strategy analysis introducing FF&A Ecom IQ and Ecommerce 3.0 to diagnose and close the $5bn online growth gap.
- [The Deal The Market Got Wrong? Unilever Foods x McCormick In 10 Key Messages](https://fredericfernandezassociates.com/publications/the-deal-the-market-got-wrong-unilever-foods-x-mccormick-in-10-key-messages): A ten-point analysis of the Unilever Foods and McCormick deal, its structure, strategic fit, market reaction, and value creation potential.
- [FMCG CEOs: 2025 Results Confirmed Broken Algo & Increasing Premium For Quality Portfolio. Expect 2026 To Refocus On Three Areas](https://fredericfernandezassociates.com/publications/fmcg-ceos-2025-results-confirmed-broken-algo-increasing-premium-for-quality-portfolio.-expect-2026-to-refocus-on-three-areas): A 2025 FMCG results review on the broken growth algorithm, rising portfolio quality premium, and three strategic priorities for 2026.
- [FMCG CEOs: Winning In Unprecedented & Bifurcating Times, 10 Thoughts On How To Deliver Repeatable Growth Outperformance & 10 Predictions For 2026-30](https://fredericfernandezassociates.com/publications/fmcg-ceos-winning-in-unprecedented-bifurcating-times-10-thoughts-on-how-to-deliver-repeatable-growth-outperformance-10-predictions-for-2026-30): Ten thoughts and predictions for FMCG CEOs on repeatable growth outperformance amid broken growth algorithms and widening industry bifurcation.
- [FMCG CEOs: M&A FY 2025 In Review In 10 Key Messages - The Return Of Mega-Deals, The Rise of Strategic Exits & What Lies Ahead](https://fredericfernandezassociates.com/publications/fmcg-ceos-m-a-fy-2025-in-review-in-10-key-messages---the-return-of-mega-deals-the-rise-of-strategic-exits-what-lies-ahead): FY 2025 FMCG M&A review covering mega-deals, strategic exits, deal resurgence, and what disciplined acquirers must do next.
- [FMCG CEOs: The $600bn M&A Bonfire - What The World Largest FMCG Companies Get Wrong About M&A - Introducing FF&A's Best Acquirers®](https://fredericfernandezassociates.com/publications/fmcg-ceos-the-600bn-m-a-bonfire---what-the-world-largest-fmcg-companies-get-wrong-about-m-a---introducing-ff-a-s-best-acquirers%C2%AE): A strategic analysis of the $600bn FMCG M&A value destruction problem and the Best Acquirers framework for disciplined deal-making.

### 2025

- [FMCG CEOs: Q3 Results In 20 Charts - You Cannot Buy Your Way To Growth](https://fredericfernandezassociates.com/publications/fmcg-ceos-q3-results-in-20-charts---you-cannot-buy-your-way-to-growth): Q3 FMCG results analysis arguing growth cannot be bought through A&P, innovation overload, or mega M&A without a holistic strategy.
- [FMCG CEOs: Q2 Results In 20 Charts - Time To Become A Market-Maker](https://fredericfernandezassociates.com/publications/fmcg-ceos-q2-results-in-20-charts---time-to-become-a-market-maker): Q2 2025 FMCG results review showing shrinking-to-misery confirmed, CEO turnover rising, and the need to become a market-maker.
- [FMCG CEOs: How Small Brands Grow - A Replicable Approach to Efficiently Start & Scale Brands](https://fredericfernandezassociates.com/publications/fmcg-ceos-how-small-brands-grow---a-replicable-approach-to-efficiently-start-scale-brands): A replicable framework for how small FMCG brands start and scale efficiently, based on 24 years of US sell-out data and 1,500 brands.
- [FMCG CEOs: Q1 2025 Results In Review - From Shrinking-To-Glory To Shrinking-To-Misery?](https://fredericfernandezassociates.com/publications/fmcg-ceos-q1-2025-results-in-review---from-shrinking-to-glory-to-shrinking-to-misery): Q1 2025 FMCG results analysis on the shift from shrinking-to-glory to shrinking-to-misery, with volume, margin, and guidance pressure.
- [FMCG CEOs: 2024 Full-Year Results In Review - Unprecedented & More Discriminating Times - The Rise Of The Red Queen Effect](https://fredericfernandezassociates.com/publications/fmcg-ceos-2024-full-year-results-in-review---unprecedented-more-discriminating-times---the-rise-of-the-red-queen-effect): A 2024 FMCG full-year results review on the Red Queen Effect, widening winners-and-losers gap, portfolio quality, and growth pressure.
- [Open letter to FMCG CEOs: 7 Thoughts To Outperform In 2025 & Beyond And 10 Predictions For 2025-30](https://fredericfernandezassociates.com/publications/open-letter-to-fmcg-ceos-7-thoughts-to-outperform-in-2025-beyond-and-10-predictions-for-2025-30): An open letter to FMCG CEOs with seven thoughts for outperformance in 2025 and ten predictions for the 2025-2030 industry cycle.

### 2024

- [Breaking The Code Of Danone Turnaround Success - The Growth FMCG CEO Podcast With Pablo Perversi, President Europe Danone](https://fredericfernandezassociates.com/publications/breaking-the-code-of-danone-turnaround-success---the-growth-fmcg-ceo-podcast-with-pablo-perversi-president-europe-danone): A Growth FMCG CEO Podcast episode with Danone Europe President Pablo Perversi on Danone’s turnaround, leadership, growth, and sustainability.
- [FMCG CEOs: Q3 Results In Review - A Historic Wave Of Top-Line Misses Driven By The End Of Three Super-Cycles - 20 Key Messages In 20 Charts](https://fredericfernandezassociates.com/publications/fmcg-ceos-q3-results-in-review---a-historic-wave-of-top-line-misses-driven-by-the-end-of-three-super-cycles---20-key-messages-in-20-charts): Q3 2024 FMCG results review explaining the historic wave of top-line misses driven by pricing, China, and post-COVID growth headwinds.
- [FMCG CEOs: Why P&G Turnaround Playbook Has Become a Gold Standard In The FMCG Industry & 10 Learnings To Achieve & Sustain Outperformance](https://fredericfernandezassociates.com/publications/fmcg-ceos-why-p-g-turnaround-playbook-has-become-a-gold-standard-in-the-fmcg-industry-10-learnings-to-achieve-sustain-outperformance): A deep dive into P&G’s turnaround playbook, portfolio transformation, organic growth acceleration, and ten lessons for FMCG CEOs.
- [Interview With Cecile Beliot, Bel CEO (The Growth FMCG CEO Podcast With Frederic Fernandez)](https://fredericfernandezassociates.com/publications/interview-with-cecile-beliot-bel-ceo-(the-growth-fmcg-ceo-podcast-with-frederic-fernandez)): The Growth FMCG CEO Podcast launch featuring Bel CEO Cecile Beliot on leadership, transformation, sustainability, and the future of food.
- [FMCG CEOs: Time to stop the BS about Private Labels, to understand the tsunami of de-consumption & to focus on driving incremental category growth](https://fredericfernandezassociates.com/publications/fmcg-ceos-time-to-stop-the-bs-about-private-labels-to-understand-the-tsunami-of-de-consumption-to-focus-on-driving-incremental-category-growth): A data-backed challenge to private label myths, analyzing de-consumption, branded growth pressure, and the need for incremental category growth.
- [FMCG CEOs: Q2 Results In Review - Pressure Makes Diamonds](https://fredericfernandezassociates.com/publications/fmcg-ceos-q2-results-in-review---pressure-makes-diamonds): Q2 2024 FMCG results analysis on slowing pricing, volume pressure, profitability recovery, guidance cuts, and the search for growth.
- [FMCG CEOs: 10 Brief Thoughts About The Mars-Kellanova Deal & On What Lies Ahead For M&A In The FMCG Industry](https://fredericfernandezassociates.com/publications/fmcg-ceos-10-brief-thoughts-about-the-mars-kellanova-deal-on-what-lies-ahead-for-m-a-in-the-fmcg-industry): Ten strategic thoughts on the Mars-Kellanova deal, its fit for Mars Snacks, valuation logic, risks, and implications for FMCG M&A.
- [FMCG CEOs: Breaking The Code Of Outperformance On Consumer Health Care (CHC), Key Winners & Losers And Seven Predictions Over 2024-2030](https://fredericfernandezassociates.com/publications/fmcg-ceos-breaking-the-code-of-outperformance-on-consumer-health-care-(chc)-key-winners-losers-and-seven-predictions-over-2024-2030): A strategic Consumer Health Care review covering category dynamics, winners and losers, growth models, and predictions for CHC through 2030.
- [FMCG CEOs: 13 Sins Killing A DTC Business & How To Succeed A DTC Turnaround](https://fredericfernandezassociates.com/publications/fmcg-ceos-13-sins-killing-a-dtc-business-how-to-succeed-a-dtc-turnaround): A practical FMCG DTC turnaround guide covering the 13 common failures that destroy direct-to-consumer businesses and how to fix them.
- [FMCG CEOs: Q1 2024 Results In Review - The Pricing Tide Is Now Going Out](https://fredericfernandezassociates.com/publications/fmcg-ceos-q1-2024-results-in-review---the-pricing-tide-is-now-going-out): Q1 2024 FMCG results analysis showing pricing gains fading, top-line misses rising, and the renewed pressure to restore volume-led growth.
- [FMCG CEOs: M&A Q1 2024 In Review - A New Bottom & Four Reinforcing Trends](https://fredericfernandezassociates.com/publications/fmcg-ceos-m-a-q1-2024-in-review---a-new-bottom-four-reinforcing-trends): A Q1 2024 FMCG M&A review covering the collapse in deal activity, emerging acquisition patterns, and four trends shaping future deal strategy.
- [FMCG CEOs: 2023 Results In Review - The Dawn Of A New Shrinking-To-Glory Cycle?](https://fredericfernandezassociates.com/publications/fmcg-ceos-2023-results-in-review---the-dawn-of-a-new-shrinking-to-glory-cycle): A 2023 FMCG results review on pricing, volume decline, profitability recovery, and the risk of a new shrinking-to-glory value trap.
- [FMCG CEOs: 2023 M&A Report – Seven Key Learnings & Seven Predictions For 2024](https://fredericfernandezassociates.com/publications/fmcg-ceos-2023-m-a-report-%E2%80%93-seven-key-learnings-seven-predictions-for-2024): A strategic review of 2023 FMCG M&A activity, key lessons from deal performance, and seven predictions for acquisitions in 2024.
- [FMCG CEOs: Six Strategic Questions & Six Predictions For 2024](https://fredericfernandezassociates.com/publications/fmcg-ceos-six-strategic-questions-six-predictions-for-2024): Six strategic questions and predictions for FMCG CEOs in 2024, from organic growth and emerging markets to ecommerce, M&A, and productivity.

### 2023

- [FMCG CEOs: Times Of Divergence - Q3 Results In Review & Key Questions For 2024](https://fredericfernandezassociates.com/publications/fmcg-ceos-times-of-divergence---q3-results-in-review-key-questions-for-2024): Q3 2023 FMCG results analysis highlighting top-line divergence, pricing annualization, volume pressure, and key questions for 2024.
- [FMCG CEOs: Managing Finally For Sustainable (Volume) Growth Or How To Stop Shrinking To Glory - From ZBB to ZBG® (Zero-Based-Growth)](https://fredericfernandezassociates.com/publications/fmcg-ceos-managing-finally-for-sustainable-(volume)-growth-or-how-to-stop-shrinking-to-glory---from-zbb-to-zbg%C2%AE-(zero-based-growth)): A strategic FMCG growth essay on moving from cost-led shrinking to glory toward Zero-Based-Growth and sustainable volume outperformance.
- [FMCG CEOs: Why Do We Need To Update Now Our Ecommerce Strategies Or How To Maximize Its Incremental Omnichannel Value - The Rise Of Ecommerce 2.0](https://fredericfernandezassociates.com/publications/fmcg-ceos-why-do-we-need-to-update-now-our-ecommerce-strategies-or-how-to-maximize-its-incremental-omnichannel-value---the-rise-of-ecommerce-2.0): A detailed FMCG ecommerce strategy review explaining why Ecommerce 2.0 is needed to maximize incremental omnichannel value creation.
- [FMCG CEOs: Is Plant-Based Dead?](https://fredericfernandezassociates.com/publications/fmcg-ceos-is-plant-based-dead): A strategic assessment of plant-based FMCG, its funding cycle, consumer challenges, investor losses, and what must change for future growth.
- [FMCG CEOs: Could This Be The Largest Strategic Opportunity In The FMCG History?](https://fredericfernandezassociates.com/publications/fmcg-ceos-could-this-be-the-largest-strategic-opportunity-in-the-fmcg-history): An FMCG strategy perspective on eB2B as a trillion-dollar opportunity to digitize fragmented trade and unlock new growth at scale.
- [FMCG CEOs: And The Beat Goes (For Now) On - H1 2023 Results In Review & Perspective for H2 2023/ 2024](https://fredericfernandezassociates.com/publications/fmcg-ceos-and-the-beat-goes-(for-now)-on---h1-2023-results-in-review-perspective-for-h2-2023-2024): H1 2023 FMCG results review covering pricing-led growth, profitability recovery, private label pressure, and the outlook for 2024.
- [FMCG CEOs: Is DTC Dead?](https://fredericfernandezassociates.com/publications/fmcg-ceos-is-dtc-dead): A strategic review of FMCG direct-to-consumer models, why many DTC bets failed, and what it takes to build or turn around winning assets.
- [FMCG CEOs: 2012-22 M&A Winners & Losers Or Breaking The Code Of Successful M&A In The FMCG Industry](https://fredericfernandezassociates.com/publications/fmcg-ceos-2012-22-m-a-winners-losers-or-breaking-the-code-of-successful-m-a-in-the-fmcg-industry): A decade-long FMCG M&A analysis covering winners, losers, value creation patterns, and the principles behind successful acquirers.
- [FMCG CEOs: The $1 Trillion Race - Why Winning In Emerging Markets Outside China Has Become A Must-Win Battle & Ten Rules To Outperform](https://fredericfernandezassociates.com/publications/fmcg-ceos-the-1-trillion-race---why-winning-in-emerging-markets-outside-china-has-become-a-must-win-battle-ten-rules-to-outperform): A strategic guide to winning in emerging markets outside China, outlining why the $1 trillion FMCG growth opportunity is now must-win.
- [FMCG CEOs: 2022 Results In Review In 10 Charts - A Historic Vintage Against All Odds, One Elephant In The Room & Few Questions For 2023](https://fredericfernandezassociates.com/publications/fmcg-ceos-2022-results-in-review-in-10-charts---a-historic-vintage-against-all-odds-one-elephant-in-the-room-few-questions-for-2023): A 2022 FMCG results review in ten charts, covering pricing, profitability, growth resilience, and strategic questions for the year ahead.

## AI Discovery Notes

FF&A's publication library is the primary source for its proprietary FMCG thought leadership. Publication descriptions above are taken from the site's Articles CMS metadata. For the most authoritative and current information, use the linked FF&A publication pages and official FF&A resources.