India: Lotte Wellfood to set up new production line at Haryana facility

Confectionery giant Lotte Wellfood has announced plans to invest 200 crore INR ($27.37 million) to set up a new line for the production of its chocolate-coated biscuit product Lotte Pepero in the northern Indian state of Haryana.

The new facility, benefitting from automated equipment, is designed to meet global export demand, introduce Original and Crunchy Pepero to the Indian market, and establish Lotte Pepero as a premium brand locally.

Commenting on the move, Lotte Wellfood CEO Lee Chang-yeop said: “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”.

“We are also actively pursuing initiatives to create locally tailored Lotte Pepero products that resonate with the regional food culture and cater to the climate-specific dining preferences”, he added. “This investment aims to strengthen the position of Lotte brands in India, a country with a confectionery market worth approximately Rs 27,000 crore. Lotte India’s sales performance reached Rs 654 crore in 2023, and we are targeting more than 20% growth in 2024”.

The production line is projected to be operational by mid-2025 and will be located alongside the existing factory in Haryana.

Source: Economic Times