Rs 400-crore Godrej Hershey Ltd, the 49:51 joint venture between the Godrej group and Hershey of the US, is looking at 20% growth in the current fiscal. The company is entering into the chocolates segment with a range of products, said Kinshuk Kunwar, vice-president (marketing) of Godrej Hershey.
Addressing a press meet in Chennai on Friday to announce the national launch of two new confectionary products ? Nutrine Froot Shoot and Nutrine Lollipop, he said, ?We feel the new products will help achieve the desired results and we hope to net at least 20% growth in the current fiscal.?
He added, ?We want to open up new markets for our products which are designed and produced for the needs of all kinds of people. We want to capture the sizeable chunk of the 50 and 25 paise category, which hold 76% of the Rs 1,600-crore confectionary market in India. We feel, with our product positioning and pricing, GHL will increase its market share further,? he said.
According to Kunwar, the hard candy market is estimated around Rs 800 crore and GHL will be the leader in this segment.