Lotte Wellfood, a Korea-based FMCG company, has announced its plan to set up a new manufacturing unit in Haryana for the production of Lotte Pepero. The FMCG giant will invest over INR 200 crore in the establishment of this advanced manufacturing facility.
“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 production line, set to be operational from mid-2025, will be positioned alongside their existing factory in Haryana, which currently 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.
With this new line, the company aims to position Lotte Pepero as a premium brand in local markets, with subsequent plans to extend its reach into retail formats and e-commerce channels, as mentioned in the release.
The CEO additionally mentioned that Lotte India achieved sales of INR 654 crore in 2023 and is setting a target for over 20 percent growth in the year 2024.
Continue Exploring: Lotte invests INR 185 Crore to ramp up Choco Pie production at Chennai factory
Furthermore, Havmor Ice Cream, a subsidiary of Lotte Wellfood, will invest INR 436 crore in its new facility in Maharashtra. Production is set to begin in the second quarter of this year in Talegaon, Pune.
Founded in 1967, Lotte Wellfood, formerly known as Lotte Confectionery, is a division of Korea’s Lotte Group. Internationally, the brand operates through 9 subsidiaries in 8 countries, which include India, Kazakhstan, and Belgium.
