"Fortunately or unfortunately, imported chocolates give us better margins. Modern trade accounts for a small turnover for locally-made chocolates, but given the way it is growing, it would make sense for domestic chocolate players to activate modern trade elements," says Food Bazaar’s chief executive officer Sadashiv Nayak.
In June this year, Future Group, which owns Food Bazaar, boycotted the Cadbury brand over alleged price discrimination. A few days later, the two companies buried the hatchet.
"For the consumer, the key driver is innovation - right from the ingredients - which sparks imagination and consumption. Innovation always gets rewarded handsomely by customers," says Naik. Agrees Sethi: "Foreign brands, with their combination of technology, cost and ingredients, have been able to manufacture chocolates of better quality, texture and taste."
Image: Cadbury's Wowie .| Photograph: Cadbury's website
Also read: Lalu Yadav, the management guru!
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