Korean FMCG giant Lotte Wellfood is set to establish a new manufacturing unit in Haryana, focusing on the production of its popular product, Lotte Pepero, according to a press release issued on Wednesday. The company has allocated a significant investment of over Rs. 200 crores for the development of this state-of-the-art manufacturing facility.
Lee Chang Yeop, CEO of Lotte Wellfood, expressed the company’s strategic intent, stating, “This investment aims to strengthen the position of Lotte brands in India, a country with a confectionery market worth approximately 27,000 crores.” The proposed manufacturing line is expected to be operational by mid-2025 and will be situated alongside Lotte Wellfood’s existing factory in Haryana, known for producing Lotte Choco Pie.
Lee emphasized the company’s commitment to the Indian market, citing the success of Lotte Choco Pie and expressing optimism about introducing Lotte Pepero to further enhance the brand’s strength and boost sales in India. Lotte Wellfood aims to position Lotte Pepero as a premium brand in local markets, with plans to explore retail formats and e-commerce channels in the future.
In addition to the Haryana facility, Lotte Wellfood’s subsidiary, Havmor Ice Cream, is set to invest Rs 436 crore in a new facility in Maharashtra. The production at this facility, located in Talegaon, Pune, is scheduled to commence in the second quarter of this year.
Lotte Wellfood, formerly known as Lotte Confectionery, has been a key player since its establishment in 1967 and is a part of Korea’s Lotte Group. With subsidiaries in eight countries globally, including India, Kazakhstan, and Belgium, the company is strategically positioning itself for growth in the dynamic Indian market.
The CEO disclosed that Lotte India achieved sales of Rs 654 crore in 2023 and is targeting a growth rate exceeding 20% in 2024. These investments underscore the company’s commitment to expanding its footprint in the Indian market and capitalizing on its growth potential.