Fonterra, the world’s largest dairy cooperative, has launched its first brand in India under a joint venture with Future Consumer.
The Dreamery brand rolls out in India this week from the Fonterra Future Dairy partnership, with the inaugural range encompassing yogurt, flavoured milk drinks and skimmed milk. The joint venture aims to “disrupt the way consumers across India enjoy dairy”, according to a statement.
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Ishmeet Singh, the chief executive of Fonterra Future Dairy, said: “Our first product range is focused on taking staple products and using our world-class innovation to give them a contemporary and relevant twist. However, as we move forward, we’re going to continue to evolve our portfolio with products that will deliver superior quality, taste and nutrition across the Dreamery product range.”
The first products will be available in Indian retailers in the cities of Mumbai, Pune, Bangalore, Ahmedabad, Hyderabad and Surat, with more to be launched in the next six to 12 months.
“After the initial launch, the joint venture will focus on building a strong consumer base with strategic expansion throughout India before extending its product offering to include a full range of value-added consumer and foodservice dairy products to delight Indian consumers,” the statement read.
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Sunil Sethi, the chairman of Fonterra Future Dairy, added: “By combining Fonterra’s global dairy innovation, manufacturing and nutrition expertise with Future Consumer’s leadership in retail and distribution, our goal is to delight Indian consumers with high quality, nutritious and great tasting dairy products, which is what we call Dairy 2.0.
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By GlobalData“We’re bringing 130 years of dairying expertise and our world-leading food safety and quality standards to this partnership to ensure that consumers can trust our dairy. Working with Future Consumer gives us an understanding of the complete consumer ecosystem and a right to win in the Indian marketplace. It’s a unique synergy that is set to create a new force in the Indian dairy industry.”
Sethi is also the managing director of Fonterra Brands Sri Lanka and the Indian subcontinent.
The joint venture with Future Consumer, established last summer, marks another attempt by Fonterra to try and gain a foothold in the Indian market.
Its previous foray with Indian food major Britannia Industries came to an end in 2009 because Fonterra considered that too much investment was needed to support the venture. However, in 2013 the co-op opened a sales office in New Delhi.
