Home Retail Snowberry to foray into Indian market, plans $50 mn investment

    Snowberry to foray into Indian market, plans $50 mn investment

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    American ice-cream maker USA will enter Indian markets with a planned investment of USD 50 million, said a top official. However, the investment will be made in a phased manner by 2010, said , president, USA.

    Famous for its low fat Yogurt ice cream, the company has formed an Indian entity, Snowberry India Ltd, to carry out operations the USD 200-million Indian ice cream market.

    Meanwhile, the company, besides operating in India, also intends to take brand Snowberry to China and few other countries as a part of its global expansion agenda, informed Barker.

    Additionally, the company will set up 50 stores in its first phase of expansion. Out of this, four stores will be 1,000-square-feet small format stores and the rest will be kiosks in and around the national capital region, said , vice-president, Snowberry India.

    The company will also set up a manufacturing facility in Manesar, Haryana, to cater the needs of these 50 stores initially.

    — IndiaRetailing Bureau