US-based chocolate and confectionery firm Hershey’s is bullish on India and plans to expand its portfolio here, a top company official has said.
According to a PTI report: Hershey’s India’s portfolio comprises syrups, milkshakes, soymilk, spreads, cocoa, lollipops, fruit flavoured beverage and a premium chocolate brand Brookside.
“We want to introduce a bigger portfolio in India. Given the success that we have shown in all the innovations that we have launched, there is an increasing desire in the company to now be a bit more bullish on India than in the past.
“As a chocolate and confectionery player that is where you would probably expect new product portfolio to come from,” Chairman and Managing Director, Hershey’s India, Praveen Jakate told PTI.
Having launched a sugarfree variant in its soy milk brand Sofit and a fortified syrup, the company plans to launch products with health benefits or superfoods over a period of time.
“There is a desire to come up with products which are better for consumers over a period of time,” he was further quoted by PTI as saying.
The company is focusing on its premium product offerings and the premium portfolio, which is the highest margin product, is growing at 40 per cent.
India is one of the four key markets for the country outside North America and the company, which has US $7.4 billion global sales across 70 countries, is planning to take the learnings from here to other global markets.
On its fruit flavoured beverage brand Jumpin, he was quoted by PTI as saying, “Jumpin is an important part of our portfolio and we need it to maintain scale in the market but is not a brand we are advertising or investing behind.”