American ice-cream maker Snowberry 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 Robert F Barker, president, Snowberry 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 Nitesh Kumar, 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