Lotte Wellfood, a Korea-based FMCG firm, will establish a new manufacturing plant in Haryana to produce its product Lotte Pepero, the company announced in a press release on Wednesday.
The FMCG major stated that it has set up more than Rs 200 crore for the establishment of this new production plant.
“This investment aims to strengthen the position of Lotte brands in India, a country with a confectionery market worth approximately 27,000 Cr,” said Lee Chang Yeop, CEO, Lotte Wellfood.
The proposed line will be operational from mid-2025 and is located alongside their existing factory in Haryana, which produces Lotte Choco Pie.”We plan to actively expand our investments in the Indian market, which holds substantial growth potential. Following Lotte Choco Pie success in India, introducing Lotte Pepero will enhance Lotte’s brand strength and expand sales in the Indian market,” commented Lee.
According to the announcement, the company’s goal with this line is to build Lotte Pepero as a premium brand in local markets before expanding into retail formats and e-commerce channels in the future.
The chief executive further revealed that Lotte India’s sales hit Rs 654 crore in 2023, with the business aiming for more than 20 per cent increase in 2024.
Furthermore, Lotte Wellfood’s subsidiary Havmor Ice Cream has invested Rs 436 crore to its new factory in Maharashtra. Production will commence in the second quarter of current year at Talegaon, Pune.
Lotte Wellfood (previously Lotte Confectionery) was founded in 1967 and is part of Korea’s Lotte Group. Globally, the brand has nine subsidiaries in eight countries, including India, Kazakhstan, and Belgium.
