Hershey has made its first major move as an independent player in India with the announcement of plans to launch US candy brand Jolly Rancher into the country.
The company has introduced Jolly Rancher lollipops into India, made at its manufacturing plant in Chittoor, in the south of the country.
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The US confectionery giant took full control of its Indian venture last year after buying a 49% stake held by local conglomerate Godrej Industries and other smaller shareholders.
The venture, launched in 2007, had been losing money and accounted for a tiny share of India’s confectionery market, with local brands like Nutrine.
However, Hershey insisted growth in the sector as a whole was “solid” and maintained it was “excited” about the opportunities in the country.
Announcing the Jolly Rancher launch today (5 December), Hershey said India’s confectionery sector was “one of the fastest-growing in the world”, with a compound annual growth rate of 18%.
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By GlobalDataHershey said it had developed lollipop flavours specifically for the Indian market. “The Jolly Rancher brand is a perfect line of products for sweets-loving consumers in India,” Atul Razdan, general manager, marketing, sweets and refreshments, for Hershey India, said. “We’ve tailored our new Jolly Rancher products for India to appeal, specifically, to local palates with bold, fruity flavours that are unlike any other candy available in the market.”
The lollipops – which come in green apple, watermelon and mango flavours – are priced at INR5 (US$0.08) and are available in “select outlets in metropolitan cities”.
