In an interview with the Economic Times, Roberto Grasso, India managing director of the Italian Ferrero Rocher brand of candies, outlined his company’s growth and said that the company will double its investment to $256 million in the next few years.
Ferrero entered India a decade ago, and:
- Has an annual sales turnover of $240 million.
- Has worked with its vendors to achieve the quality of raw material it requires for its confections; 90% of its raw material is now sourced from India.
- 50% of the products manufactured in India is exported.
- The India branch of the company has recently overtaken Nestle’s chocolate production figures, in India.
- Established its first research and development laboratory outside of Europe, in Baramati in the western state of Maharashtra. This lab designs and develops toys that are used in the Kinder Joy product.
