America's Iconic Chocolate Brand Introduces a New Addition in India
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The Hershey chocolates, one of the world’s most celebrated and popular chocolate brands was founded in 1902 by Milton Hershey. More than a century later, Hershey’s is a mega and opulent brand whose chocolates are loved, relished and devoured by people throughout the world. It is indeed a global craze for chocolate lovers. Anyone who goes to America definitely brings a bag full of Hershey’s chocolates. Today, Hershey's is a billion dollar business with an enviable and established global reach and the products it offers are unique, distinctive and universally admired.
The Delight of Chocolate Lovers Since 1902
While Hershey Chocolate Town is an entire community built around the chocolate factory, Hershey Park, Hershey’s Chocolate World, Hershey Museum, Hershey Gardens are some of the added subsidiaries of the world’s biggest chocolate line.
Kisses to India!
This global brand is now ready to make lofty investments in India. Hershey India Pvt. Ltd, an off-shoot company of the Hershey’s is introducing the Kisses chocolate brand in the Indian Market. This initiative comes at a time when India is loaded with festivities and celebrations. This time-space might prove beneficial in terms of sales for the iconic chocolates.
The Indian Chocolate Market
Hershey’s global market share is 7.1 per cent and it occupies almost half of the chocolate market in the United States. In India, however, there are several competing brands that are in the running including Cadbury, Bournville, 5 Star, Perk, KitKat and most essentially, Ferrero Rocher and Mondelez. As a result of so many chocolate establishments vying to capture the Indian market, the sales and demand for chocolate companies have had to adjust according to the changing trends.
In an interview with Times of India, The Hershey Company president & CEO Michele Buck revealed that they are aware of India being a vibrant market owing to its growing middle class and disposable incomes. He iterated that with the Kisses launch, their focus would be on the metropolitan market.
Rolling Out Carpets for India
This is not all. Hershey’s have grand investment plans for India. In a statement, Praveen Jakate, chairman and managing director, Hershey India, revealed, “We anticipate an investment of about $50 million during the next five years as we focus on growing and expanding our presence in India.” He also added, “India is one of our key international focus markets and we are investing to build this important business.”
Hershey’s products in India exist in a mammoth of variety including chocolates, syrups, juices, almond joys etc. The Kisses have started their trade with South India and will eventually roll out to other parts of the country. Currently being manufactured in Gujarat, it will have three variants-milk chocolate, almonds and the cookies and cream flavours. They will be available in e-commerce platforms priced at at Rs. 50 for 36 grams.