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Lotte Wellfood Co., Ltd., formerly known as Lotte Confectionery, revealed it will expand its production line to India. The company will set up its facility in Haryana, North Indian state, and open its first overseas production base.
Total Investment for the Project
According to The Korea Economic Daily, Lotte Wellfood is investing $25.3 million, or about 2.1 billion rupees, to build an automated plant that mainly produces Pepero, one of the company's popular snacks in various flavors. Typically, it is a chocolate-covered pretzel stick in a box.
The facility will be operated by Lotte Wellfood's local subsidiary, Lotte India. It will rise in an unused space within the existing factory and be a high-tech facility filled with cutting-edge equipment for food production.
Production Goal
India's Investing reported that the company plans to start full-scale production by mid-2025 and produce favorite items such as the Crunky Pepero and Original Pepero. The new plant will manufacture products for local distribution and part of them for export.
This will allow Lotte Wellfood to expand its domestic sales in India and increase profits through exports to neighboring regions. Moreover, once the factory starts operation, the other goal is to launch new products that will satisfy the consumers' taste preferences in both local and global markets.
Lastly, in addition to Pepero, Lotte Wellfood may also manufacture chocolate pie and some plant-based versions of its favorite snack line. The food producer will make a local version of its Pepero products and base the flavors on India's food culture and eating environment based on the country's climate.
"We plan to actively expand our investments in the Indian market, which holds substantial growth potential. Following Lotte Choco Pie's success in India, introducing Lotte Pepero will enhance Lotte's brand strength and expand sales in the Indian market," Lotte Wellfood's CEO, Lee Chang Yeop, said in a statement. "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."
