Lotte Well Foods establishes Pepero’s first overseas production line in India

Lotte Well Food is making strategic moves to establish Lotte Pepero as a global brand, building on its success in the Indian market. The chocolate stick snack received positive reviews from 90% of Indian consumers, lauded for its innovative concept and distinctive formulation. Following the achievements of Lotte Choco Pie, the company plans to focus on developing Lotte Pepero into a global brand. Their strategy involves initially targeting the premium market through large supermarkets and e-commerce channels, utilizing the existing sales network established by Lotte Choco Pie. Subsequently, they aim to expand their presence in smaller traditional channels.

Lotte India has demonstrated strong growth, with sales reaching 107.5 billion won in 2023, and they have ambitious plans to increase sales by more than 20% in the current year. Notably, they invested approximately 30 billion won in their Chennai factory to launch the full-scale operation of their third Choco Pie production line, solidifying their position in the Indian Choco Pie market, where they hold a market share of about 70%.

In addition to their endeavors in the snack market, Lotte Well Food's subsidiary, Havmor Ice Cream, is making significant strides in the Indian ice cream market. They are expanding their regional presence through investments in production facilities, with a new ice cream production facility worth approximately 70 billion won set to begin full operation this year. This facility, incorporating advanced food manufacturing technology and automation, marks a significant step in Lotte Well Food's commitment to the Indian market, driven by its vast population. Lotte Wellfood's CEO, Lee Chang-yeop, emphasized their intention to increase investment in the Indian market, with plans to lead not only with Lotte Choco Pie but also with Lotte Pepero, implementing a comprehensive localization strategy to enhance the brand's presence and expand sales.

(Image - lottewellfood.com)