Two years ago, Satish P., a bakery owner in the small village of Harohalli near Bengaluru, had his doubts about stocking Mondelez's Cadbury Silk ...
CHICAGO/HAROHALLI, India: Two years ago, Satish P, a bakery owner in the small village of Harohalli near Bengaluru, had his doubts about stocking Mondelez's Cadbury Silk bars.
Illinois-based Mondelez, India's No 1 chocolate maker, told Reuters"the big bulk" of a US$150 million increase in global investment this year - the first hike in five years - will be in rural India.The company, which first started providing Indian store owners with free display coolers in early 2000s, ramped up their distribution to rural areas over the last year. It now plans to be in about 75,000-100,000 villages in the next three years, up from 50,000 in 2018.
Iyer said Mondelez was targeting villages with as few as 3,000 people."There are families aspiring for premium products because they see them through mobile connectivity today."Mondelez CEO Dirk Van de Put said competitors will find it hard to match the firm's scale in the country. Mondelez says it now commands 66per cent of the Indian chocolate market. Cadbury, a 195-year old British confectionery brand, entered India in 1948 and its Dairy Milk, Silk and 5Star products have since made it a household name. The Dairy Milk brand alone accounts for 40 per cent of the market.
Last year, chocolate sales in India jumped 15.4 per cent after the government, keen to win re-election, overhauled its national sales tax for many items. The cut in tax to 18 per cent from 28 per cent reduced chocolate retail prices and companies nearly tripled the amount they spent on promotions, according to market research firm Nielsen.
Rapid growth has come with the introduction of its 112-year-old Kisses brand last autumn, helping it replace Mars as India's No. 4 chocolate company, although its products are only available in 14 cities and major online stores like Amazon.com, BigBasket.com and Flipkart.com.
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